From science to business – how firms create value by partnering with universities | InnovationManagement

From science to business – how firms create value by partnering with universities | InnovationManagement

PUBLISHED: SEPTEMBER 20, 2010 | BY: GEORGES HAOUR IN: LIFE CYCLE PROCESSES

From science to business

In today’s “knowledge-based” society, it is becoming increasingly imperative for companies to “mine” knowledge and technology generated by universities. Why? Because the outcome of such industry-university collaborations help companies create new activities and jobs.

Companies tap into the new knowledge and technology generated by universities in various ways, from hiring graduates to giving endowments and commissioning contract research. Only a small fraction of universities in Europe and the US carry out collaborative research with companies. 

According to a 2009 AUTM report (www.autm.org), in the most active cases, the amount funded by the private sector represents only about 6% of the total research budget of these universities: the lion’s share of research funding comes from the public sector, with a very small number of universities capturing the bulk of private sector funding.

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