In the first part of this paper aspects of the university-industry interface are grouped on the basis of initial funding received from Government, charitable organisations, the UK University Grants Committee, the UK Science Research Council, and from private organisations and individuals. In the discussion particular emphasis is given to the units which were launched with the aid of the UK Ministry of Technology grant, 1967/68. University-owned limited-liability companies are also surveyed. The second part of the paper is a ‘case study’ of one of the successful university industrial units; this is a detailed account of the growth of Industrial Development Bangor (UCNW) Ltd. Factors predicating commercial success are analysed and evaluated. An assessment of the position of the unit within its host university is made and pointers are given to avenues of future development.