Industry/University Cooperative Research Center

Overview
Each Industry/University Cooperative Research Center (I/UCRC) is established to conduct research that is of interest to both the industry and the university with which it is involved, with the provision that the industry must provide major support to the center at all times. The centers rely primarily on the involvement of graduate students in their research projects, thus developing students who are knowledgeable in industrially relevant research.

Source

 * National Science Foundation, "About the Industry/University Cooperative Research (I/UCRC) Program" (full-text).