One particular way universities may contribute to local economic development is through academic startups. An implicit assumption is that these firms have pronounced incentives to locate in vicinity of the parent institution because universities generate knowledge and provide inputs and services, which are important for their development and success. Against this background, we analyze the importance of universities in anchoring academic startups in the region. The results suggest that the likelihood of a startup to stay in the region is positively associated with the parent university’s share of national professors that perform research in related fields. However, we find more robust evidence that startups’ likelihood to locate in the parent university’s region is positively associated with the amount industrial R&D in the region. We also find evidence that the strength of industry R&D at particular location might act as pull factor attracting university startups from other regions. However, no such evidence is found with regard to university R&D. Moreover, the likelihood to locate in the parent university’s region in positively correlated with the number industry linkages the founders have developed prior to firm formation. Finally, mechanisms driving the spatial organization of economic activities consequences and implications for policy are discussed.