Resumen
The need of the search for new sources of funding due to the decrease in the level of state financing of higher education institutions of Ukraine testifies to the actuality and importance of the development of cooperation between academic institutions and industrial partners. The Knowledge & Technology Transfer Center (KTTC) was established at Khmelnitsky National University (KhNU) with the purpose of such cooperation. The main areas of activity of the KTTC are: organization of effective communication interface of the University; in-university consulting on implementation and commercialization of innovations; intellectual property management and research of the market requirements. The main target groups of the KTTC at KhNU are researchers, students and industrial partners.This paper highlights the ways of achieving sustainable development by the KTTC at KhNU. The tasks, which were solved to ensure sustainable development of the KTTC, are presented. Among these tasks, the main attention is paid to the analysis of the innovation branch, financial support of the KTTC and involvement of as many partners as possible in the activities of the KTTC.