The objective of this study was to identify strategies that foster alliances between the industry and the physical education academy. In-depth interviews were conducted with participants from the industry and university sectors. For the selection of the subjects of the research, the Innovation Portal of Ministry of Science, Technology, Innovation, and Communications (MCTIC) and the representativeness of the GDP of Brazil was used, giving preference to the companies that were among the fifty companies with the highest value. Four significant categories emerged in the analysis of the interviews: mandatory society, addictive state, decontextualized formation, and synergy. The interviewees pointed out that the primary strategy to follow is to listen to the people and to join efforts of all the institutions to produce what the society demands. However, in practice, there is a more traditional behavior. This behavior replicates an attitude that tends not to observe the demands of society and assumes an operational rather than strategic position. Key Words: Innovation, Triple helix, University, Sport, Physical Education, Management.