Why We Do it
In the era of globalization, Industry-Academia cooperation is not just being considered as a ‘transfer’, rather a bidirectional knowledge exchange – with academics acting as the source of specialized knowledge, and business as the root of practical market and societal knowledge.
Furthermore, there is growing evidence that cooperation with industry can increase the amount and quality of publications universities produce, relevance of research whilst helping to make teaching more relevant and engaging. Additionally, this cooperation creates a source of funding and improves understanding of current market needs.
On the other hand, Industry benefits from access to the latest knowledge, innovation and skilled human capital. It is practice comparable to outsourcing highly specialized, breakthrough R&D activities. In this context, cooperative relationships can be mutually beneficial and provide societal impact.