Businesses perceive increasing R&D-based cooperation with universities as a tool for developing more innovation through information exchange. With this study, which aims to examine in which areas the industry is developing, in which context performance indicators this improvement takes place, and then to reveal the missing or wrong points in the cooperation processes, a situation determination is made and suggestions for improving the current situation are presented. In accordance with this purpose, in-depth interviews were held with the managers of 21 businesses located in İzmir and Manisa provinces and having R&D or Design Centers. As a result of the findings obtained, a positive relationship was found between University-Industry Collaboration and the innovation performance of businesses. It was seen that, with the increase in the number of new products, the number of R&D projects, the number of patents and utility models, the number of new ideas, the number of scientific publications and efficiency criteria, the innovation performance of the businesses increased. Businesses that were attended to research; with the projects they carried out within the scope of University-Industry Collaboration, also achieved significant benefits in the areas of market performance, production performance, financial performance, and employee performance, which directly affect their overall performance. The high level of satisfaction of the businesses for University-Industry Collaboration has brought together an increase of cooperation projects.