A Knowledge Alliance is a structured cooperation project between higher education institutions and businesses. It aims to strengthen Europe's innovation capacity by fostering innovation in higher education through knowledge exchange with enterprises. Key features include innovation in higher education through cooperation with businesses, sustainability of the university-business partnership, and impact beyond the lifetime and organizations involved. Eligible activities support boosting innovation, developing new learning methods, and stimulating student entrepreneurship skills. Successful proposals demonstrate strong commitments from both academic and business partners to achieve impact through knowledge sharing.