Warwick Manufacturing Group has announced a major link with global engineering and consultancy company Arup.
The two will collaborate in research, training and the identification and exploitation of business opportunities.
The partnership will see Arup and WMG working together in areas such as postgraduate and post-experience training and internships, sustainable manufacturing, manufacturing research, engineering in building design, and the Warwick Digital Lab - a £50 million project currently being developed for research and development and business support.
Professor Lord Kumar Bhattacharyya, director and founder of WMG, part of the University of Warwick, said: "This is a landmark for both organisations.
"Working with industry and the wider business world has always been core to WMG's ethos and activities. But this part-nership with Arup will allow us both to move into new fields and markets, jointly achieving more than we could alone."
Dr Kerry Mashford, head of sustainable manufacturing and construction at Arup, said: "This partnership provides an ongoing focus for the collaborative work Arup is undertaking with WMG."
It could mean more jobs and investment but that depends on how it develops - a WMG spokeswoman said but there was nothing that could be quantified at present.