This article presents the historical development, structure and process of implementing the Indian Sponsored Research and Development (SPREAD) program, as a successful model of promoting university-industry-government interaction and technology collaboration. SPREAD was a technology support program implemented by the Industrial Credit and Investment Corporation of India, a development financial institution, on behalf of the Government of India. Sponsored as a pilot project by the World Bank in 1991, the SPREAD program was meant specifically for supporting university-industry joint research and development projects within India. SPREAD supported over a hundred such joint projects resulting in more funds being diverted to it than initially planned. The article presents the country context for the initiation of the SPREAD program, its structure and the nature of financing provided under it. It also covers the SPREAD program implementation process, the benefits seen by the firm, initial project selection process, detailed project proposal requirements from the firm, project appraisal process, sanction process, selection criteria, post sanction activities, and assistance given to the firm under the program. The paper finally presents a diagrammatic representation of the support structure for promotion of university-industry-government interaction and technology collaboration as shown in this program.