Enhancing Knowledge and Technology Transfer: Determinants and Indicators of Successful University–Industry Collaboration

ABSTRACT Both universities and companies create value and innovation to maintain their position and remain competitive. Different, but still similar, with two goals that are shared. With their collaboration, they can enhance their pursuit of sustainability and as well corporate social responsibility by creating and delivering value and thus contributing to the well‐being of society. This paper thus examines the determinants and indicators of successful university–industry collaboration (UIC) in the context of knowledge and technology transfer. The purpose of the research is to identify key factors that drive effective UIC and to establish measurable indicators for evaluating the performance of this collaboration. The paper aimed to understand not only what drives UIC but also how to measure its effectiveness. So, an exploratory, theory‐building approach, adopting a systematic literature review is applied. By focusing on the determinants and measurable outputs of UIC, the paper provides insights into the strategic importance of measuring knowledge and technology transfer for a wide range of stakeholders involved in it. UIC for universities is a part of their third mission and their CSR, while with respect for companies, UIC is a result of practicing open innovation and pursuing corporate social responsibility. While consolidating these dimensions, the study also develops a holistic input–output indicator framework that not only clarifies how collaboration is initiated and structured but also how it can be evaluated in practice.