In the beginning of 2021, a quantitative survey was conducted among academics in Icelandic universities to gather information about their involvement in Third Mission activities and barriers to collaboration. The target group consisted of all academics, including adjunct, assistant, associate, and full professors, working at any of the seven Icelandic universities. The majority of participants (n = 674) were affiliated with the University of Iceland, while the remaining (n = 360) were associated with other universities at the time of data collection. The survey questions were designed based on insights from a literature review, as well as drawing inspiration from previous studies on barriers to university-industry collaboration. Before the survey was administered, it underwent a pre-test phase involving various academics and university staff members, resulting in necessary adjustments. Email addresses of potential participants were obtained from the universities’ public websites. The survey itself was conducted using QuestionPro and remained open for a period of 21 days, with two reminders being sent following the initial invitation to participate. A total of 183 responses were collected, although not all participants completed the entire questionnaire. Consequently, the response rate amounted to 17.7%.