Grant Opportunities for Academic Liaison with Industry (GOALI) is a successful program created by the National Science Foundation for providing collaboration opportunities between academia and industry. Our collaboration with a manufacturer interested in evaluating the capabilities of multivariate statistical analysis methods for interpreting fermentation process data, extracting process knowledge, and developing process monitoring techniques was a valuable experience. Students gained a new insight about industrial manufacturing environments and the challenges of industrial data, and the industrial company had the opportunity to assess the strengths and limitations of advanced techniques. The presentation will focus on the critical factors to make the collaboration successful.