Public–Private Partnerships (PPPs) have been widely applied as credible models for the development and operation of public infrastructure. Through private sector involvement, the public sector manages to better control costs and debt levels and, in return, offers to the private sector access to new long-term investment opportunities. For PPPs to be successful, proper identification and management of risks are pivotal and reward mechanisms need to be carefully constructed to allow both sides to play to their respective strengths, benefit from the deal and extract value from it. This study intends to answer two key questions: (i) How to apply PPPs and similar partnering modalities (e.g. concessionary models) to the development and sustainable operation of Science and Technology Parks (STPs) and Innovation Districts?1 (ii) What are the key features of currently existing PPPs for STPs and Innovation Districts?
