The aim of this paper is to explore the possibilities of how Higher Education Institutions (HEIs), by integrating research and education, can increase the industrial competences of students. By exploring the perceptions of various stakeholders and analyzing ongoing trends, this paper seeks to shed light on the potential ways in which HEIs can contribute to future industrial competitiveness. Identifying existing skill gaps among future engineers will enable the HEIs to know the demand for skills and align graduate capabilities with industry requirements. The final reflections will explore how HEIs can collaborate with regional and national industries, through integrating activities between engineering research and education, contributing to industrial readiness as well as to the DeepINVENTHEI initiatives in Europe.