That's great news! It means the industry sponsor is interested in your proposal. You should engage directly with the sponsor to discuss your work in more detail.
Typically, the sponsor will reach out to ask clarifying questions about your proposal and you should not provide any confidential information at this stage. If discussion continues, it may be appropriate for the sponsor to sign a confidential disclosure agreement (CDA). If you are ever concerned about revealing confidential information, consult with your tech transfer office.