In this paper I review prior academic debates on knowledge transfer between university and industry, that is University-Industry Cooperation (UIC), and describe its history in Japan. Before the 1990s there were no systematic UIC in Japan and a result of basic research was transferred informally through already existing personal network. In the later 1990s, Technology Licensing Organizations (TLOs) were established to connect university invention and corporate innovation. In 2004, Japanese national universities were incorporated and UIC headquarters began to operate inside university. After the Hiranuma Plan in 2001 aiming at 1,000 university-led start-ups in 3 years and its achievement, several successful cases were created and are widely known. In making a UIC policy in the 2020s, we expect that TLOs, UIC headquarters and their specialized staffs, would be a producer to create a new business and innovation based on the results of basic research and to increase the value of the knowledge originated from university.