This paper delves into the dyadic relationships between Science Parks (SPs) and universities from the perspective of SPs. It explores various dimensions, including organizational functions, co-location, collaboration, management team activities, partnerships, and connections with university students and senior academics. A survey of 120 European SPs underscores the significance of having the University-Industry Liaison Office within the SP, fostering increased collaboration with the local university, providing career opportunities for university students, and promoting alumni network activities. Additionally, the proximity of universities and research institutions within a 50 km radius positively impacts the relationships between SPs and universities. Additionally, the paper offers several managerial implications. Establishing communication channels between SP management and universities fosters an environment that boosts the open exchange of ideas, collaborative discussions, and problem-solving. The alignment of SPs and universities' goals and objectives, particularly in areas such as research themes, industry partnerships, technology transfer, and talent development, further solidifies the mutually advantageous nature of these relationships, establishing a strong foundation for their enhancement. Within the SP environment, universities can closely collaborate with businesses, start-ups, and entrepreneurs, promoting innovation, commercializing research findings, and incubating spin-off ventures.