This paper contributes to the understanding of university spinoff (USO) development by analysing structural properties of their shareholder networks over time and across different regions. Theoretically, we propose a new stage-based typology of USO development across regions. Empirically, the study utilises a sample of 1033 academic spinoffs founded by 87 universities across 12 unitary regions in the UK considering the diversity of spatial contexts in the USO development. We undertake a social network analysis of relations USOs form with their parent universities and shareholders by adopting 'betweenness centrality' and 'structural holes' as two key measures. By employing this novel network-based view of firm development across regions, this study builds on the development model of USOs by identifying three key phases of USO development: (1) "organisation phase," (2) "exploitation phase," and (3) "maturity and reorganisation phase." Second, we observe differences in USOs in terms of shareholder network development across diverse regional contexts. We propose a novel typology of entrepreneurial regions to better understand the diverse spatiality of USOs: "peripheral lock-in," "entrepreneurial periphery," "rigid core," and "entrepreneurial core." We call for further research to capture the long-term development and variable growth paths of USOs.