University-Business Cooperation (UBC) is a relationship in flux, reflecting issues specific to the transition from an industrial to a knowledge society. UBC is undergoing a transformation from a dyadic university-business relationship, aimed at solving firm problems, sourcing new products or providing an outlet for academic research, to a triadic universityindustry- government relationship that maintains these objectives, while incorporating new features, such as contribution to economic and social development at the national, regional and local levels, responsiveness to societal concerns and... new forms of student involvement in entrepreneurial activities.