This study examines the factors influencing university–industry collaboration in developing countries, using Chile as a case study. Although communication and university brand image are often viewed as central relational elements, results show that their effects on collaboration success are mostly indirect. Based on survey data from Chilean firms involved in R&D projects and analyzed through PLS-SEM, the findings identify satisfaction as the strongest driver of collaboration success, operating both directly and through its positive influence on trust and commitment. Satisfaction is shaped by two antecedents: it is directly affected by university brand image and indirectly by communication, whose influence is transmitted through its positive impact on functional conflict. While neither brand image nor communication directly increases collaboration success, both enhance relational quality by strengthening satisfaction and improving conflict management. The study offers insights for policymakers and universities in developing economies seeking to improve the effectiveness and long-term sustainability of R&D partnerships.
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