University-industry collaboration can also take on diverse forms, depending on the needs of the participants, as well as on the formality and complexity of the relationship (Holmberg, et al., 2022; Borah, et al., 2021; Ankrah & Al-Tabbaa, 2015). For example, the knowledge exchange can take place via meetings and networking, communication (personal and via, e.g., publications), shared trainings and personnel mobility (and work placements). The exchange can serve several different purposes, for instance development of research partnerships, research services, shared infrastructures, academic entrepreneurship, human resource training and transfer as well as the commercialization of intellectual property, scientific publications, or just informal interaction (Perkmann & Walsh, 2007). From the enterprises’ viewpoint, their most important link to universities is the recruitment of skilled graduates (Guimón, 2013), but these enterprises can, through collaborative projects, also learn with and from students, for instance through project-based or inquiry learning approaches (Holmberg et al., 2022; Holmberg & Ritalahti, 2017). A close cooperation between higher education institutions (HEIs) and businesses can result in the development of curricula and pedagogies that enhance the competences and skills considered most important by the industry, for example, project management, networking and teamwork. Conclusion Intensified collaboration between universities and industry partners is a win-win for all partners. Through collaboration projects, university students will gain competences that will improve their overall employability. Through the process of close collaboration, university staff will also learn about the most current trends in industry and the companies involved in the collaboration will be exposed to expertise and specialist knowledge from the lecturers and gain from the innovation capacity of the students. At its best, this collaboration results in improved processes, the development of new services and products and supports inclusive regional development. 10
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