从实体与语义层面量化学术界与产业界知识距离，揭示协同演化规律。

The academia and industry are characterized by a reciprocal shaping and dynamic feedback mechanism. Despite distinct institutional logics, they have adapted closely in collaborative publishing and talent mobility, demonstrating tension between institutional divergence and intensive collaboration. Existing studies on their knowledge proximity mainly rely on macro indicators such as the number of collaborative papers or patents, lacking an analysis of knowledge units in the literature. This has led to an insufficient grasp of fine-grained knowledge proximity between industry and academia, potentially undermining collaboration frameworks and resource allocation efficiency. To remedy the limitation, this study quantifies the trajectory of academia-industry co-evolution through fine-grained entities and semantic space. In the entity measurement part, we extract fine-grained knowledge entities via pre-trained models, measure sequence overlaps using cosine similarity, and analyze topological features through complex network analysis. At the semantic level, we employ unsupervised contrastive learning to quantify convergence in semantic spaces by measuring cross-institutional textual similarities. Finally, we use citation distribution patterns to examine correlations between bidirectional knowledge flows and similarity. Analysis reveals that knowledge proximity between academia and industry rises, particularly following technological change. This provides textual evidence of bidirectional adaptation in co-evolution. Additionally, academia's knowledge dominance weakens during technological paradigm shifts. The dataset and code for this paper can be accessed at https://github.com/tinierZhao/Academic-Industrial-associations.