Strategic university-industry (U-I) relations strengthen the ideas-to-innovation process and are of great strategic importance to leaders in the public and private sectors. U-I research collaborations help advance the nation’s commercialization portfolio and increase overall economic competitiveness. A number of federal agencies have implemented programs or adopted policies to catalyze and participate in high-value, high-return U-I collaborations. At this GUIRR/UIDP-hosted workshop, the participants explored the current government-university-industry research, development, and commercialization engagement models, identified specific short- and long-term challenges that are encumbering government-industry-university engagement, and discussed new approaches to university-industry collaborations.