This paper examines the educational implications of research collaboration between university and industry for the research training of doctoral students. It is concerned with the issues of how research training is constructed in such collaborations and what might be the effects of collaboration on doctoral students' learning. The study adopts a knowledge perspective. Three different dispositions of knowledge are identified: "expert", "utilitarian" and "commercialized". Doctoral students' experiences were examined in relation to two aspects of research training--industrial involvement in supervision and academic freedom--in university-industry collaboration in the field of life sciences. Thirty-five in-depth interviews were carried out at BioCity Turku in Finland with 16 doctoral students, 14 of their supervisors and 5 PhD graduates. Four major types of PhD research collaboration were discovered, characterized as "Financial", "Interactive", "Kangaroo" and "Appendant". The significance of each type is discussed in relation to different knowledge dispositions. Drawing on the research findings, suggestions are offered for constructing successful research training programmes through university-industry collaboration. (Contains 2 notes, 3 figures, and 1 table.)