This work provides some insights into the various characteristics of joint public/private R&D projects, the organizations, and their innovation productivity. Industry characteristics, R&D characteristics, and linkage characteristics, are all evaluated. The proposed methodology utilizes a database of over 200 projects involved in this Spanish government supported program. The methodology includes the application of data envelopment analysis (DEA) to determine the relative productivity ("efficiency") of the various projects. The relative productivity scores are then categorized by various characteristics. Non-parametric statistical testing is then applied to determine how well these characteristics differentiate poor performing projects from better performing ones.