Interactions between universities and industries are increasingly seen as a way to promote innovation through exchanging knowledge. Collaborations between universities and industry are attracting contentious attention from researchers in various sectors and policymakers due to the synergy of these links and the benefits they can produce in terms of technology, innovation, economic growth, and development. University-industry collaborations are bidirectional connections designed to enable the dissemination of creative ideas, skills, and people to develop mutual value over time.
Universities are important for creating and sharing knowledge to enable information transfer from academia to industry, and creating university-business collaborations is crucial. Cooperation between academia and business is essential nowadays since academia is where knowledge is developed. In contrast, business is put into practice and produces goods and services for society and the country.
University-industry collaboration is called for university-industry linkages, university-business ties, university-industry alliances, and university-business partnerships in diverse contexts and disciplines worldwide. Proper and effective interactions with the industry generate mutual benefits. Recurrent interactions between universities and industries affect generating consulting opportunities, improving work-related knowledge, and providing better learning opportunities for undergraduates.
Additionally, in the context of emerging markets and business development, university-industry collaboration is one of the primary sources of outside knowledge and technologies for industries. Smooth university-industry interactions highly affect the boost of employability. Further, collaborative consultancy activities, collaborative training and educational activities, and collaborative contract research will create competitive advantages that affect graduate employability.
Considering the empirical literature, the formation process of university-industry collaborations comprised five distinct stages. In stage 1 (partnership recognition) the purpose of the relationship will be evaluated while analyzing the competencies of potential partners. In stage 2 (developing contacts) the prospective partners are identified. In stage 3 (evaluation and choosing of a partner) partners are selected after analyzing the strategic interests and capabilities. In stage 4 (negotiation of partnership) several important functions are performed including, defining the partnership, finalizing the vision, mission, and purpose of the partnership, determining the goals and objectives, deciding the suitable organizational structure for the partnership, defining the administration and management responsibilities of the partnership, and determining the indicators for measuring success, concluding the milestones and agreeing on the plan. Stage 5 (signing the agreement) is the final task in the process of formation of university-industry collaborations and drafting, signing a partnership agreement, and deciding the aspects of intellectual property.
Collaborations between academia and industry have a positive socioeconomic influence on the areas in which they are carried out. University-industry collaborations affect a wide range of connected parties in multiple ways. University-industry collaborations generate impact on the economy through investments in Infrastructure, production, processes, and service improvements, enhancing productivity, introducing new products to the market, developing new ventures, commercialization of new concepts and technologies, increasing patents and licensing, improving sales and exports, growing scientific publications, improving networking and knowledge sharing with national and international bodies, upgrading knowledge dissemination through seminars, conferences, and workshops, and enhancing the academic excellence.
University-industry collaborations create an impact on society by enhancing employability and reducing unemployment, increasing internship opportunities for students, salary increases, enhancing living conditions, upgrading the qualification of the workforce, and receiving effective training for the students and employees.
Moreover, university-industry collaborations develop financial benefits through increasing the investments, income/fund generation for the universities, increasing the revenues and profits of the industries, enhancing the gross domestic product and per capita income, and improving the taxable income.
Collaboration between academia and industry involves both the forces for fostering and hindering this cooperation. These elements are discussed in this section from both a university and industry standpoint. From the universities’ viewpoint, concentrating on flexible, long-term strategic partnerships, academic leadership, shared vision, and strategies to pursue the goals are significant aspects contributing to the success of a partnership with industry. From the perspective of the industry, a strong commitment that results in ongoing interest in the project throughout its development stages and in its outcomes is a key element for developing successful collaboration.
However, numerous barriers are affecting the decreasein the levels of university-industry collaborations; lack of enthusiasm and dedication to working together with organizations, lack of mutual trust, the confidentiality of the information, lack of communication platforms, intellectual property rights, information asymmetry, cultural diversities in institutions, lack of qualified human resources, issues of patents and licenses, technological barriers, divergence in goals of the universities and industries, the bureaucracy, lack of entrepreneurial orientation and intention, restrictions, lack of financial support, legal and political aspects, and geographical distances. Considering the numerous barriers, university-industry collaborations have not garnered adequate attention in the academic literature. However, few studies have attempted to observe the driving forces for effective collaborations between universities and industries. Several best practices for effective collaboration have been developed under the collaborative framework developed by Awasthy in 2020. This framework considersan extensive number of factors acting in a wide range of contexts within the collaborative system.
Accordingly, both universities and industries should consider the best practices; recognizing the numerous linkages or connections that academia and industry might have, identifying the relevant stakeholders and their requirements, observing and appointing suitable leaders, ensuring the creation of win-win situations, developing effective communication, establishing a flexible dissemination strategy, maintaining smooth connections with alumni associations, introducing awards and incentives for appreciating the efforts of the academics for effective collaborations with industry, concentrating on social capital resources (mutual understanding, trust, respect, sharing common information), deciding policies on the protection of intellectual properties, and establishing strategies for continuous collaborations for enhancing the effectiveness of the university-industry collaborations.
Methodology of the Study: The current study was designed as a Systematic Literature Review and bibliometric analysis, extracting articles from the Scopus database and utilizing both Biblioshiny and VOSviewer software for advanced scientific mapping and visualizations via quantitative and qualitative analysis approaches.
University-industry collaborations are increasingly recognized as vital for enhancing graduate employability by bridging the gap between academic learning and industry needs. Here are several strategic approaches that can be implemented to strengthen these collaborations.
Collaborative curriculum development: Universities can work with industry partners to co-develop curricula that meet the skills demands of the job market, ensuring that graduates are industry-ready. This can include integrating practical skills, emerging technologies, and sector-specific knowledge.
Structured internship programs and mentoring: Establishing robust internship programs where students gain hands-on experience in their field of study. These internships should be well-structured, with clear learning outcomes and mentorship from industry professionals.
Industry advisory boards and consultancy: Forming advisory boards with representatives from key industries to regularly review and provide input on academic programs, ensuring they remain relevant and aligned with industry needs. Universities can offer consultancy services to industries where universities provide expertise and guidance on specific projects, technical challenges, or strategic decisions.
Collaborative research projects and knowledge transfer partnerships: Encouraging faculty and students to collaborate with industry on research projects that address real-world challenges. This advances knowledge and exposes students to industry practices and innovation processes.
Strategic alliances: Developing long-term partnerships with key industry players, creating a sustained relationship that benefits the university and the industry through continuous collaboration on multiple fronts.
Short courses and certifications: Offering industry-recognized certifications and short courses focusing on specific skills in demand, such as digital literacy, data analytics, or project management.
Joint conferences, workshops, and seminars: Organizing joint conferences, workshops, and seminars where industry experts share their knowledge and discuss current trends, challenges, and opportunities in the field.
This study has implications for graduates, practitioners, academics, and policymakers in the higher education sector and helps develop the discipline of study as smooth university-industry collaborations generate numerous benefits for all the stakeholders and the community at large.
This article is developed based on our research entitled “University-industry linkages and agendas for future studies: a systematic literature review and bibliometric analysis” published by one of the leading and prestigious publishers in the world, Emerald Publishers at a Q1-indexed journal in both Web of Science and Scopus.https://doi.org/10.1108/AEDS-08-2023-0104.
By
P.A Buddhini Amarathunga
Senior Lecturer,
Department of Business Management,
Wayamba University of Sri Lanka, Kuliyapitiya, Sri Lanka.
Professor Ali Khatibi
Senior Vice President,
Postgraduate Centre,
Management and Science
University. Selangor, Malaysia.
Professor Zunirah Mohd Talib
Dean, Graduate School of Management,
Management and Science
University. Selangor, Malaysia.
