Academic–industry collaborations are seen as a way to improve the translation and uptake of social science research. The ideal model is that of knowledge co-production, which regards effective collaboration as a reciprocal process between academic researchers and industry partners that is underpinned by jointly produced research outcomes. However academic–industry research partnerships can be inherently problematic, with poor collaborations impeding the translation and uptake of academic research. This article sets out to explore the realities of academic–industry collaborations in the social sciences through a study of Australian Research Council Linkage projects. Based on interviews with academic chief investigators and industry partners (n = 54) the article examines factors that influence the dynamics of research collaborations. Findings indicate that collaborations are inhibited and enhanced by particular individual and organisational factors and that the benefits of academic–industry collaborations go beyond simply improving the uptake of social science research.