University-industry partnerships must be part of the vision and planning of any institution with bold growth aspirations. Connecting research to markets benefits the institutions, the businesses that collaborate, and the economy as a whole.
Here are some of my thoughts on the hows, whys and even some of the myths of university-industry partnering:
A strong rational exists for university-industry partnering
- Increased competition by universities for state and federal research funds
- Universities are required to translate research results into areas of societal need
- Industry funding of extramural research is increasing as a source of innovative technology and products
- Increased expectation from politicians that value should be captured from government funded research
The partners in university-industry partnering
- Knowledge is recognized as a driver of innovation, productivity and economic growth
- Universities transform new research knowledge into innovative technology
- Industry develops innovative technology into new products and services
- Fundamental basic research creates the basis for future commercial technologies
Universities play a unique role in the partnership
- Are in the knowledge creation business
- Have the freedom and flexibility to do cutting edge research
- Work with infrastructural advantages compared to industry
- Diversity in knowledge creation and a source of new scientists and new ideas
- Able to attract nodes of research expertise around areas of technology innovation
What are the Best Practices in high performance partnerships?
- Clarity of objectives
- Alignment of interests
- High level of communication and sharing of expertise
- Adequate resources
- Defined deliverables, milestones, timelines, clear roles and responsibilities
- Reduction of technology to patentable inventions
- Intellectual property protection and agreed business terms
Myths of university-industry partnering
- Loss of perceived independence of academia
- Potential for reduced emphasis on basic and fundamental research
- Timing of external disclosures may need to be balanced with creation of intellectual property protection
- Unclear or misaligned research objectives or endpoints
Future industry partnering opportunities for universities
- Financial and in kind support from industry partners
- Experiential and career opportunities for students
- Research focus on high need areas
- Increased ability to attract the best faculty and students
- Enhanced reputation as a preferred research partner
- Ability to influence the design of new technology