This literature review article thoroughly investigates the history, evolution, consequences, Trends, barriers and benefits of Industry Academia Collaboration (IAC) across the globe. The introduction sheds light on the origins of IAC in the early 20th century and its significance in bridging the gap between academia and industry, leading to mutual benefits and knowledge exchange. By examining studies from different countries, the literature review explores the trends, barriers, and drivers of IAC, highlighting the increasing interest in this field. It underscores the significance of effective partnerships, interdisciplinary collaboration, and supportive institutional frameworks in improving collaboration outcomes. Furthermore, this article offers valuable insights into the dynamics and mechanisms of IAC while suggesting future research directions and practical implications in this vital realm of knowledge transfer, innovation, and economic development. The history of Industry Academia Collaboration (IAC) dates back to the early 20th century when industries began partnering with academic institutions to tackle technological and engineering challenges. Predominately, IAC refers to the collaboration between industry and academic institutions for mutual benefit and knowledge exchange. It involves academic researchers, faculty, and others working together with industrial partners to develop new technologies, products, and services, as well as to share knowledge and resources. The objective of IAC is to bridge the gap between academia and industry, promoting innovation, economic growth, and societal development.
