Founded in 1985, INDUNIV is a nonprofit organization representing industry, government and the academic sector. The center promotes the island's competitiveness in science and technology. Its efforts pave the way for the knowledge economy.

INDUNIV advances understanding of the pharmaceutical and bioscience development fields; facilitates collaboration between industry, government and academia; develops strategies and road maps to formulate public policy and advocates its implementation. It is a relentless promoter and catalyst for the development of centers of excellence, technology parks and incubators to pave the way in the value chain for the innovation through commercialization of products, enhancing Puerto Rico's competitiveness and making it more attractive for manufacturing activities.

The center is governed by a Board of Directors with representatives from industry, government and academia. INDUNIV's work is financed by donations from industry and academia, income from the events it organizes and a matching grant from PRIDCO. Allocations for research are secured through a grant from the University of Puerto Rico.