This study is part of a broader research project, conducted by the Triple Helix Research Group--Brazil, focusing on university-industry-government linkages in the state of Rio de Janeiro. The case study reported here is that of the Regional University of Volta Redonda: the aim was to develop an understanding of how a regional university can be transformed into an entrepreneurial university, oriented towards assisting regional economic development. A theoretical framework was constructed using existing literature on regional development and the Triple Helix approach. The research objective was to determine the relevance and effects of university-industry collaboration from the perspective of local players. Two surveys were conducted, one with faculty members at the university and the other with representatives of companies located in the region. No cultural barriers to collaboration were revealed on either side of the relationship; and opportunities to improve a relationship that, in the past, has had little influence on economic development in the region were also identified. (Contains 5 tables and 6 notes.)