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Abstract: This paper presents empirical evidence on university-industry relations (UIR) and knowledge transfer in the regional innovation system of Bangkok and broaches the issue of adapting well-established concepts for the analysis of innovation processes in newly industrialising countries. The potential for UIR is restricted due to 1) a weak and fragmented innovation system, 2) low technological and absorptive capacities in the industrial sector, and 3) slowly improving research capabilities in the scientific sector. Hence the level of UIR in the regional innovation system of Bangkok is mainly limited to occasional and personal modes. It is suggested to strengthen the knowledge transfer capabilities within both actors and to establish effective mechanisms for bridging institutional barriers between academia and industry