This paper sets out by reviewing the key elements of a Science or Technology Park in the context of open innovation. This is followed by a broad scan of Science and Technology Park activity in South and South East Asia. The paper proceeds to discuss Singapore’s continuous efforts to create new Science and Technology park models and presents a new approach the Singapore Management University has pursued for catalyzing valorization. Insights into and recommendations on key issues related to intellectual property, licensing and venture capital that would be of interest to any Science Park are presented later.