The Industry-Academia Collaboration Towards Advancing the Energy Transition report provides an overview of a roundtable discussion held by the Bahrain Center for Strategic, International and Energy Studies (Derasat) on May 2nd, 2024, to explore the collaborative potential between industry and academia in advancing the energy transition. The discussion, which connected key stakeholders, researchers, academics, and industry professionals, revealed several critical insights, such as the difficulty of meeting sustainability goals due to conflicting global objectives and technological constraints; the urgent need for the oil and gas sector to enhance emission control; unconventional resources; and the necessity of a balanced approach that incorporates both renewable and fossil fuels. Key recommendations from the discussion included: fostering cooperation between fossil fuel and sustainable energy sectors; providing robust policy support for decarbonization; and enhancing systematic collaboration between academia and industry to drive innovation.