The increasing demands of innovation on products, manufacturing processes, and knowledge force industries to build effective collaboration with academic institutes. The reciprocal university-Industry collaboration needs supportive government policies. As a developing country, Indonesia is predicted to be the seventh biggest economy country in the world. Indonesia needs high-functioned vocational education which successfully bridges schools and industries.  The previous studies explained the developing country with an economy growing needs three major factors: industries, government, and universities. Currently, Indonesia needs to further adopt and implement the successful factors of cooperation university-industry from understanding the experience of developed countries. It is crucial to analyze the perspectives of industries regarding the U-I cooperation, focusing on government policies, financial support, personnel training, and university policies. This study takes systematic literature review on the previous experiences of United States of American and Japan to understand these important issues. Also, this study finally provides some recommendations consisting of: (a) Government policies, such as patent regulation, and license certification, (b) Financial support, such as research funding for small companies, and innovative equipment substitutes, and collaboration with universities, (c) Personnel training, such as senior engineers involvement in universities, on-job-training for technology innovation, and student internship in industries, and (d) University policies, providing industries consultant services, long-termed collaboration for technology innovation, faculty members’ internship in industries, and alumni retraining.

Keyword: University-Industry Cooperation, Industry Perspectives, US, Japan