The aim of study is to develop a technology for effective interaction between universities and business based on the analysis of the problems of vocational education in the era of digital transformation. The article examines the changes that have occurred in the business processes of organizations and highlights the key gaps between the level of graduate qualifications and employer requirements. To solve the identified problems, it is proposed to establish a systemic collaboration between business, science and education. The following forms of interaction between business and universities are being explored: case study technologies, educational hackathons and scientific crowdsourcing. These technologies can bring mutual benefits to all stakeholders. For the interaction of the educational and scientific components of the university, a new concept of student association called student scientific enterprise is proposed. This association is built on the principles of self-organization and self-government and has the characteristics of a real enterprise. Its main goal is to involve students in scientific work and adapt young people to future professional activities. Scientific novelty: a theoretical model of collaboration between business and universities for mutual benefit has been developed. As a result of the study, forms of interaction among science, professional education and business were proposed.