The engineering knowledge and technology is core driving forces of continuous growth in knowledge based society. Companies, the government, and universities are the subjects of an innovation and the cooperation between them is very important. Nowadays, the main purpose of industry-university cooperation moves to train experts and develop a new product. A shift of the paradigm came from the change of recognition that the final consumers of the program are companies and the universities are supporters of the program. In this paper, we investigate the purpose, participation and satisfaction of companies to industry-academy technology cooperation through empirical studies. The need to expert training, product development and process development makes companies participate industry-academy technology cooperation and companies have different purpose of participation by the business type. Companies often feel that expert training, subsidiary purpose of industry-academy technology cooperation, is more important than product development or process development. This result is caused by the real world environment of small and mid-size companies, lacking of technology experts. The participation of companies to each technology cooperation program (technology transfer, joint technology development, consigned technology development, technology consulting, co-op. lab.) is also different by business type. The companies’ satisfaction with the purpose of process development is relatively higher than that with the purpose of product development and companies show also different satisfaction value by business type and participating program. The results of this study can give a contribution to the design of demand oriented industry-academy technology cooperation model.