A critical understanding of how knowledge collaboration may work in various configurations is a prerequisite in shedding light on how effective knowledge collaboration affects opportunities for business growth. This article presents a case analysis of a knowledge collaboration initiative between a university and other knowledge organizations. The purpose of the collaboration was to accelerate the internationalization of Finnish clean technology entrepreneurship. Various knowledge actors participated but did not succeed in translating mutual knowledge into new opportunities for clean technology business growth in the Russian market. The authors develop a typology for knowledge collaboration, providing an explanatory logic for the multidimensional development paths of such collaboration and the considerations involved. This typology may support the professional development of knowledge workers engaged in similar initiatives. It may also assist in the establishment and assessment of knowledge-based project ventures, especially those in which universities and other knowledge institutions collaborate to create opportunities that benefit entrepreneurship and new business.