This chapter focuses on the interests of companies in participating in Higher Education as a way to improve the relationship between university and labour market. For that purpose, we offer in the first place a literary review about the impact of university-business cooperation and after that we contextualise the theoretical findings into an empirical research study that help might us frame these benefits within the Spanish context. Results from the Principal Components Analysis summarise the benefits reported by companies collaborating in external placements into five factors: Innovation, Economy, Social Image, CSR and Strategic Planning. Nevertheless, the survey should be considered as an initial approach to the issue. For more consistent results, it would be needed a bigger sample from different educational levels and companies collaborating in different ways, not only in external placements. Finally, new research should also take into account the international scope that helps clarify whether companies' expectations remain the same unchanging wherever the collaboration takes place. © Peter Lang Group AG, International Academic Publishers, Bern 2021. All rights reserved.
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