The Effect of Intellectual Capital on Innovation: A Case Study of anInstitute for Advanced Studies in Basic Sciences Located in the Scienceand Technology Park of Zanjan

The present research aims to investigate the effect of intellectual capital on innovation in Zanjan Science and Technology Park (STP) during 2013. This study was conducted based on the quality-correlation method. The research questionnaire was distributed between employees who worked for any of the firms inside the STP. In general, 220 employees work in Zanjan Science and Technology Park, 139 of whom were selected using the Cochran’s formula to reply to the questionnaire. Structural equation modeling was used to analyze the data. The results of the correlation test revealed a significant positive relationship between intellectual capital and innovation. The elements of structural capital and human capital did not indicate any significant relationship with innovation. However, it was found that the elements of intellectual capital (i.e. human capital, structural capital, and relational capital) can be used as predictors of innovation in our case study.