A Research Park is a designated area that fosters collaboration between businesses, universities, and research institutions. These parks provide facilities and resources for companies to conduct research and development, often focusing on technology and innovation. They aim to stimulate economic growth by attracting talent and investment. Typically located near universities, Research Parks benefit from access to academic expertise and a skilled workforce. They often host startups and established companies, creating an ecosystem that encourages knowledge sharing and commercialization of new ideas. Examples of successful Research Parks include the Research Triangle Park in North Carolina and the Stanford Research Park in California.