University and innovation district symbiosis in the context of placemaking: insights from Australian cities

•Universities play pivotal roles as facilitators of placemaking through societal integration in innovation districts.•Universities act as platforms for collaboration and exchange of knowledge by adopting extroverted and collaborative approaches.•Universities develop a sense of trust in the community and establishinnovation districts as democratic, cohesive and prosperous localities.•Universities contribute innovation districts by incorporating organisational and cultural benefits with the economic gains.