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University-industry collaboration has become a popular topic for Science, Technology and Innovation (STI) policy research. Nonetheless, we do not have adequate understanding on several concerning issues. This paper aims to investigate the following issues: the influence of firm characteristics on decision to collaborate with universities and collaboration modes and the influence of firm characteristics on collaboration outcomes and outcomes of R&D/Innovation activities. Salient findings are observed. First, firm characteristics influence decision to collaborate with universities and collaboration modes. Second, human resource (HR) is the most frequent mode whereas technology licensing is the least frequent mode. Nonetheless, HR mode does not relate to outcomes. Third, types of modes affect outcomes. Interestingly, informal mode influences intellectual property (IP), prototype and innovation. Perhaps informal collaboration may be a stepping stone and a trust-building mechanism for ‘formal’ and ‘longer-term’ modes of collaboration. The aforementioned findings have crucial implications for stimulating university-industry collaboration.
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