The impact of innovation districts as the new generation of science and technology parks in urban and rural development

The article illuminates the evolutionary transformation of science and technology parks and innovation districts and evaluates the impact of such transformations on cities and rural areas' economic and social development. Due to the growing demand for innovative products and services, along with an increase in the workforce and expanded higher education opportunities globally, favorable conditions exist in the global and national markets for benefiting from the capacity of knowledge-based businesses. There is an emphasis on the significance of open collaborations, mutual relationships, and knowledge flow between relevant companies and organizations in the innovation and technology ecosystem. Science and technology parks play a critical role in knowledge exchange and wealth generation by creating, establishing, developing, and supporting innovative working groups and start-up businesses. However, the independent and isolated activities of science and technology parks hinder their potential to develop the innovation and technology ecosystem. It is essential to establish effective relationships and collaborations between knowledge-generating organizations, commercial companies, and innovation organizations to enable the residents to benefit from technological and innovative amenities in urban and rural areas. Innovation districts are the new generation of science and technology parks at national scales, offering a novel approach to knowledge-based urban and rural development.