Collaboration Subscribe for Access and Share What to Read Next MIT Artificial Intelligence Must Read Book of the Year Top 10 Articles of the Year Open Innovation II A decade of adding cybersecurity expertise to your boardroom Most companies decline or fail because they can’t continue to create new ones, said Sheldon Buckler, chairman of the board for the Cary, N.C.-based adhesives and coatings manufacturer. value, and this usually happens in some form. Innovation. Of course, it's not the only company committed to innovation. Innovation is the order of the day, causing companies to increasingly look outside their own organizations for new ways of growing.
At the same time, shrinking federal research budgets are forcing universities to find alternative funding sources for their work. So just as businesses are looking Job Function Email List for new capabilities, , universities are eager to get out of their ivory towers and do business with businesses to keep their labs open. This unique timing means there are unprecedented opportunities for successful partnerships between universities and businesses, and universities are making it increasingly easier to do so.
The number of university-sponsored industry or business liaison programs has increased dramatically in recent years, all of which are designed to increase university funding from private sources. However, businesses and universities face a dilemma: how to reconcile the short-term, profit-driven and transactional nature of the business world with the long-term, relationship-driven and research culture of universities? A quick look at university websites shows that many universities feel they must adopt this split personality to attract corporate money. They pair reports on the number of new patents the university has received or statements about how it matches you with potential interns, faculty or executive education opportunities with information about how you make gifts to the university.