The Industrial Partnership for Research in Interfacial and Materials Engineering (IPrime) is a university/industry partnership based on two-way knowledge transfer. The partnership is a consortium of more than 40 companies supporting fundamental collaborative research on materials. We have 54 faculty involved from 10 academic departments conducting research in 8 program areas. The breadth of these programs is quite large, spanning polymers, coatings, surfactants, electronic materials, nanomaterials and biomaterials. Participation in iPRIME affords companies the chance to scan a wide range of scientific and technological developments. IPrime's basic value statement is in providing member companies the chance to delve into the fundamental science that undergirds their products. A principal goal of IPrime is the engagement of industrial scientists and engineers in a pre-competitive, non-proprietary and collaborative environment. This structure promotes hands-on participation by visiting industrial scientists with IPrime faculty, students and post-doctoral associates.