Given the increased provision of international exchange programmes in higher education, this paper examines students’ perceptions of their learning process in one Erasmus+ programme in Food Innovation and Product Design. Using evaluation model of international exchange programme and triple helix model as the analytical framework, students’ testimonials from 2015–2021 were analysed using a critical discourse analysis. EU and non-EU students had similar perceptions of learning outcomes related to knowledge of the food innovation industry, but non-EU students had a stronger sense of awareness of both the international context and multicultural interaction.