Universities play a key role in developing skilled workers and driving innovation, both of which are important for economic competitiveness. Business leaders recognize the contributions of universities in providing competitive advantages. There are opportunities for mutually beneficial partnerships between industry and universities that can support technological education. Some examples include commissioned research, technology stations, dual appointments of staff between industry and universities, shared capital equipment, and structured training programs. For partnerships to be sustainable, there needs to be a return on investment and clear mutual benefits for both industry and universities.