This paper discusses the history, prospects and impacts of university technology and research parks. The main question addressed is: what are the short-term and long-term impacts of such parks on engineering education and its mission? The first technology park, at Stanford, and other early parks are used as examples to assess some of these impacts. Most of the short-term impacts are positive: the parks provide more options for academic staff and students, enable rapid technology transfer and offer improved funding for academia. The longer-term impacts however, including the potential loss of academic independence and diversity as well as a reduction in the classroom involvement and availability of academic staff tend not to be closely monitored. Programmes, curricula and academics? interests have been observed to shift in concert with commercial priorities. A better balance between short-term success and long-term benefits should be sought in future technology park developments.