A university research park is defined by AURP Canada as a property-based venture, which has:
- Master planned property and buildings designed primarily for private/public research and development facilities, high technology and science based companies, and support services;
- A contractual, formal or operating relationship with one or more science/research institutions of higher education;
- A role in promoting the university’s research and development through industry partnerships assisting in the growth of new ventures and promoting economic development;
- A role in aiding the transfer of technology and business skills between university and industry teams;
- A role in promoting technology-led economic development for the community or region.
The park may be a not-for-profit or for-profit entity owned wholly or partially by a university or a university related entity. Alternatively, the park may be owned by a non-university entity but have a contractual or other formal relationship with a university, including joint or cooperative ventures between a privately developed research park and a university.
