The research‐practice gap in Library and Information Science (LIS) is well documented, especially in respect of the difficulties of translating research into practice, and resultant lost opportunities. While many researchers attempt to explain this research‐practice gap, few suggest strategies to address it. The creation of researcher‐practitioner networks, however, is one approach that has been proved empirically to bridge the distance between the two communities. Such a network is currently operating in Scotland, funded by the Royal Society of Edinburgh. Research, Impact, Value and Library and Information Science (RIVAL) is part‐way through its implementation based around four knowledge exchange events for a network membership of 32 from a wide variety of LIS sectors. RIVAL's successful delivery depends in part on the project leads' experience of undertaking, and evaluating the impact of, a UK Arts and Humanities Research Council funded grant: the Developing Research Excellence and Methods (DREaM) project. Already there are indications that RIVAL is delivering value to network members. There is a strong expectation for this to be enhanced, both in the remainder of the funding period and beyond, offering theoretical contributions to the study of social networks, especially in respect of social capital development to support knowledge exchange.