Collaboration between science and industry is arguably more vital than ever to improve the capacity for advanced innovation and value creation. However, there is considerable diversity among the actors of innovation ecosystems, which raises the question of the roles and positions of specific actors: the innovation intermediaries. These are meant to be boundary organizations, developing proximity to favor collaborations. Spatial and non -spatial proximities are crucial in the innovation process and can be framed to better understand the role and configuration of innovation intermediaries, as well as the design of their business models. Based on a longitudinal case study of a new, atypical, intermediary organization within a French university, this research was conducted through an original perspective, articulating the business model with the proximity dimensions. The results reveal the nature and the role of proximity in the emergence and development of an innovation intermediary. The business model can frame the proximity choices and decisions. On a dynamic perspective, we reveal "proximity-making" processes shaping innovation intermediaries' business models, for their survival in complex environments. Beyond theoretical contributions, we finally present implications for universities, managers and policymakers.
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