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This paper draws on empirical examinations of research collaboration in order to examine the connection between institutions and networks in science. Owen-Smith and Powell (2010) argue that, despite the popularity of these two theoretical frameworks, there has to date been very few efforts to examine the relationship between networks and institutions. By drawing on interview and observation data that spans both the academic and industry sectors of science, we examine how institutions and networks are linked and feed into the functioning of each other. In particular, we look at organizational form, and how characteristics like management and hierarchy mediate the relationship between networks and institutions in driving research collaboration. We find that collaboration is complimentary to traditional goals within industry science but in many ways conflict with academic norms surrounding evaluations of individuals’ work. Despite this, academia offers more opportunities to build and draw on a broader collaborative network, while the networks in our industry observations are shaped by management preferences.