A lot of companies have been reducing their primary business research investments and instead outsourcing that task to universities, taking advantage of the latter’s often substantial intellectual assets and research infrastructure. Universities too have become more receptive in the wake of reducing government funds and federal grants. Some obstacles have been experienced such as regarding non-disclosure agreements and the potential for Intellectual Property (IP). But by and large, both sides want to forge long term, rather than transactional relationships. For this, some steps are required starting with locating the company’s R&D wing near talent centres such as major universities. Early stage research must be outsourced to universities and funded by these corporates. The entire institution must be engaged with, and not juts some talented individuals. Companies mustn’t stick to the usual big brands, but explore other options which could prove to be aces. The Non-Disclosure Agreements (NDAs) must be reinforced among both parties by focusing on aspects of interest to all. The patent licensing norms must be relatively flexible. Projects must be executed and finished in such a manner, that relationships exist where contracts could be resigned or extended with the same party in good faith. There is often a substantial cultural gap between MBA institutions and corporates. This needs to be sensitively handled to benefit both parties through a concept of societal engineering.

Source:https://hbr.org/2018/01/why-companies-and-universities-should-forge-long-term-collaborations?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert&referral=00563&spMailingID=18894202&spUserID=OTY0OTMwNTk5NwS2&spJobID=1181669277&spReportId=MTE4MTY2OTI3NwS2

Uploaded Date:06 February 2018