This report D1.1: "Baseline Report on Industry-Academia Co-Creation Approaches" is part of Work Package (WP) 1: "Human-centred development of the INDUSAC co-creation methodology" of the project "Quick challenge-driven, human-centred co-creation mechanism for INDUStry-Academia collaborations" (INDUSAC).D1.1 aims to provide a comprehensive overview of approaches to industry-academia collaboration (IAC) and to share new insights, focusing on the essential success factors for collaboration. First, the success factors for successful collaboration already identified in the literature are presented. In addition, best practice solutions on the market are also identified and introduced. Surveys and interviews provide further insights into motivation, processes, payment flows, success factors, and barriers of previous collaborations. All partners participated in conducting the interviews and surveys on both academic and industrial group. The detailed analysis and validation of the results revealed 22 essential success factors which are clustered into five groups: good communication and feedback, information and (technical) support, motivation and commitment, people and team, and structure and organization. Moreover, insights into motivation, structure, and barriers to an IAC were identified. The results obtained in this report will be used as input factors for the development of the methodology and the platform of the INDUSAC project.