Close links with international industry are a core aspect of universities of applied sciences in Europe. This paper outlines the key factors involved and different tools and methods for establishing and maintaining successful multi-layered international university-industry cooperation. Promoting high-quality international internship opportunities, focusing on practice-oriented learning and providing cutting-edge technology to students are only possible if there is continuous interaction between universities and industry. Experience shows that it is crucial to attract industry’s interest in the university by integrating it from the beginning. Only through knowledge transfer between academia and the economy in both directions can students be prepared best for their future careers.