This paper reports on preliminary findings from an ALTC funded project on how to build curricula that meet the needs of business students and employers of business graduates. The project grew out of an Australian Business Deans Council Teaching and Learning Network scoping study which identified widespread concern among industry, academic and professional associations about the lack of engagement with real world problems by business graduates. In the paper we discuss the need for industry engagement, define professionally relevant learning, and outline the study objectives and methodology. We present a typology of industry engagement in the curriculum that emerged from our fieldwork, and tools that business faculties can use to embed professional learning. Finally, we suggest directions for future research.