Abstract
This study examines university-industry collaboration (UIC) in Kazakhstan’s public universities, focusing on the challenges and opportunities that shape its potential to enhance university governance and diversify financial sustainability. Adopting a case study approach, the research involved elite interviews with 30 stakeholders, such as ministerial officials, senior management of universities, board members, and experts in higher education (HE). Unlike other studies that link weak UIC to low research capacity, this study finds that limited managerial experience impede collaboration even in a flagship national university with high research capacity, while teaching-oriented regional universities achieve comparatively greater success. However, the primary factor influencing these collaborations is regulatory compliance rather than genuine mutual interest, as legal mandates require subsoil companies to allocate funds to universities. Moreover, these obligations are often evaded by many companies, and local authorities lack the authority to enforce them. The study also revealed four key barriers to effective UIC: economic constraints, legal gaps in corporate regulation, the passive involvement of university board members, and insufficient leadership experience in stakeholder engagement.