Advantages Of Academia Industry Collaboration

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Title: An evaluation of the challenges in the Academia Industry Collaborations Dr. Pooja H. Ramchandani, Assistant Professor, H.R. College of commerce and Economics, 123, Dinshaw Wachha Road, Churchgate-20. Mobile: 9892837112 Abstract: 1. With the reports of youth in India being unemployable and need to be trained on various skills coming out regularly, there arises a need for the interaction between academia and industry. Such linkages are there, but have not given great fruitful results. The research paper attempts to evaluate the challenges in the academia industry collaborations and also makes an effort to provide suggestions as an academician to overcome the challenges in academia industry collaborations.…show more content…
Lack of Common Interest: Academics generally seek data for their publication and funding in order to support their research. Many a times, corporate motives may vary by company and by person and include philanthropy, brand recognition, access to new technology or information, student recruiting and relationship building with a specific researcher. Failure to align these interests between the academia and the industry may result in failure of the collaboration or even prevent the collaboration from launching. 2. Different ideas of Consultants: Companies are generally accustomed to dealing with consultants that are hired to solve a company-specific problem and committed to providing a pre-determined product. These products are typically concise, highly visual and can also be quickly applied to decision-making. When working with these consultants, companies also own all intellectual property (IP) arising from the work. However, the outputs of academic research are very different. Products are typically longer, publicly available documents including book chapters and journal articles. In addition to this, researchers also own the IP arising from a research study. This can be unnerving for companies as there can be downstream use of their…show more content…
Gap between Academia and Industry: Some of the major reasons for the gap between academia and industry are as follows - a) Academics and industry generally have a different mindset and therefore, a collaboration of such two different mindsets would not be an easy task. b) Both academics and industry are pursing completely different goals. The academic institution strives for recognition from his or her peers whereas the industry is striving to survive. c) Industry thinks with respect to short term goals whereas the academic institution has a long term perspective in mind. d) Industry prefers proven solutions with a low risk factor whereas Academia is more interested in creating new solutions with a high innovation rate. e) Industry seeks the minimum solution to minimize their risk whereas Academia generally strives for a maximum solution to maximize their recognition. f) Industry is mainly concerned with costs whereas on the other hand, Academia could care less about costs and is mainly interested in the benefits i.e. prestige. 8. Needs and Expectations Of The

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