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Industry-academia collaboration (IAC) has long been a source of discussion in various ways. A vital first step toward closing the gap is fostering alumni engagement in industry and academia. Industry-academia collaborations are like earth and water, and they live in harmony. They cannot exist apart from one another. The collaborative effort between industry and academia promotes improvement and innovation in technology and innovative research and enables the university to be more relevant to the industry. This article proposes a collaborative approach based on alumni influences and uses secondary data on the influences of alumni in engineering to enrich the collaboration between industry and academia. The industry and academia utilize the alumni’s potential to facilitate communication and offer their students and staff facilities. The research findings can be used by policymakers to innovate in the field of engineering and to strengthen the partnership between industry and academia in society. The model enables academia and industry to utilize the alumni strengths in enriching the collaboration; it also enhances academic research output, recruitment, fundraising, marketing, product promotion, and internship opportunities for students via alumni active participation. We propose some significant agendas for future work.