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Despite evaluating the performance of university-industry alliances being extremely important, scholars have not developed any structured and commonly accepted systems of indicators aimed at measuring the results of these collaborations. In this article, the aim is to review the literature on the evaluation of the performance of university-industry alliances and to identify a series of issues that future studies on this topic should take into account.

The paper opts for a literature review on university-industry collaborations. The review is based on papers in management, economics, and organization science. Systems of indicators to evaluate the performance of these collaborations are discussed. Directions for further research are proposed.

The literature review on firm-industry collaborations highlights a large number of contributions on the topic. However, it shows that there is still room for further inquiry on systems of indicators to evaluate the performance of these collaborations.

The literature review offers a good guideline to researchers intending to study the performance of industry-university collaborations. The discussion on the system of indicators paves the way to further empirical research on the topic.

The authors are confident that the paper has interesting practical implications. Indeed, it is a valuable guideline for policymakers, university managers, and entrepreneurs interested in evaluating the performance of industry-university collaborations.

Industry collaborations are the third mission of university systems. When this mission is accomplished in a proper manner, it benefits firms, universities, and society at large.

The paper adds to the debate on university-industry collaborations by offering literature on the topic with a particular emphasis on an under-researched theme: systems of indicators to evaluate the performance of these collaborations.