This chapter presents the development of a new model for cross disciplinary collaboration between the oil and gas industry and academic research institutions at the Danish Hydrocarbon Research and Technology Centre at the Technical University of Denmark. It shares examples of leadership challenges resulting from significant internal and external developments which have occurred during the first six years of operations of the centre. The challenges have been addressed by fundamentally changing a classic academic organization to a closely managed open collaboration model, and by adapting the research and innovation strategy to changing industrial and societal needs. Successful management of these changes has relied on professional portfolio and project management and careful balancing of value and performance-based leadership styles.
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