University-industry relationship has always been disputable in higher education. The affiliated Technology Development Zones (TDZs) of universities are proposed as the most viable form of university-industry relationship, and countries have invested extensive public monies in TDZs. However, concerns have been raised regarding the structures of TDZs and their ties with mother universities, the compatibility of TDZs with university's core academic values, and whether TDZs are the most appropriate forms of science and technology policy. This study aims to explore the characteristics of Turkey's TDZs and their role in science and technology policy from a neo-institutional framework. In a multiple-case study of three TDZs of three universities, data were collected via interviews in TDZs and universities, and from document analyses. Results show coercive isomorphism is effective in the similarization of TDZs regarding basic structural characteristics. However, very few successful TDZs function as a source of mimetic isomorphism and cause more prevalent similarization in structural and functional characteristics of TDZs. Although very few TDZs operate efficiently, quantitative increase in the number of TDZs suggests the TDZ policy is motivated by ceremonial concerns. Finally, TDZs are prone to several conflicts including academics' perception of TDZs as the agents of neoliberal ideals and practices.