Research and Development becomes one of the main pillars to build knowledge based economy nowadays . In highly competitive market, there is a real need for efficient mechanisms to have a successful technology development model. Open Innovation through University Industry Collaboration (UIC) is one of promising mechanisms to develop new technologies that can seed national knowledge economy. UIC model brings valuable benefits to both academia and industry in order to have efficient technology development processes. In addition, UIC offers university researchers an opportunity to have an exposure to industry and creates training and internship opportunities for university students. Trilateral collaboration model, which adds end-user to UIC arrangement, could bring an additional advantage to align the product development with actual customer needs making introduction of new product more successful. This paper gives an overview about the main aspects of trilateral collaboration and shows a real trilateral collaboration case between academia, technology provider and end-user to develop an actual product that serves end-user needs showing advantages, challenges of proposed model.

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