Previous studies on university-industry collaboration have shown a number of different barriers that affect transferring knowledge through such a collaboration. From the cognitive dimension of the social capital theory perspective, this paper explores barriers to knowledge transfer activities through the collaboration between university and industry and how intermediaries contribute to mitigating these barriers. By applying the qualitative research method, a total of 40 semi-structured interviews were conducted, targeting academics and practitioners across the various universities, industries, and intermediary organisations in Saudi Arabia. A thematic analysis of the data was then employed using MAXQDA 2022 software. Based on the findings, this paper contributes to the extant university-industry collaboration literature by providing insights into critical challenges that can be addressed to improve collaborative inter-organisation relationships. Additionally, it can guide related partners in maintaining a successful collaboration.