The global challenges of the transition towards low-carbon energy, with energy security as well as accessibility and affordability, cannot be successfully addressed without the contribution of knowledge-based innovations drawing on education and research in the energy field. New innovative solutions are requested along the entire value chain of the energy sector in Western Balkan Countries. The ERASMUS + project “Knowledge triangle for a low carbon economy (KALCEA)” is aiming to introduce KT mechanisms and structures through improving technical capacities at Higher Education Institutions, building strategic partnerships with the industry sector and research centers, establishing Knowledge-Innovation Centers, and developing open innovation platforms with virtual learning environments. Our research is focusing on the following aspects of KALCEA: Clarification of the needs, topics, and problem issues of collaboration between the academy, research, and business institutions; Practical aspects of the creation of the novel Collaborative Platform, including the establishment of KICs, development of collaboration model and ensuring sustainability beyond the project. A preliminary survey has provided interesting results concerning the facilitators and barriers to cooperation between HEIs and the industry. The results revealed that, with respect to research and innovation, the perception of industrial partners differs slightly from that of the academic partners.