In recent years, rapid growth has occurred in both the number and diversity of university-industry programs in the United States. While little comprehensive assessment of these programs exists to date, this paper argues that a systematic empirical analysis of a company's perception of universities as knowledge sources is critical to a clear understanding of the new alliances between industry and academia. From a survey of 216 companies, a pattern emerges where the sources of technical knowledge perceived as important by industry are complex and highly interrelated, and they also vary according to the characteristics of companies, especially size. It is seen that university research rather than universities as institutions per se are critical ingredients to the development of new products and production processes
