It is well known that collaborations between industry and academia can be mutually beneficial. However, most Indian higher education institutions (HEIs) have not focused on such collaborations or on intellectual property (IP) and technology transfers. While universities conduct and encourage basic research, many of them do not capitalise on the same research by commercialising their IP; they miss out on likely gains from patents, licensing, or start-up companies. Determining and managing impediments to collaborations between industry and academia requires a multi-pronged approach.
The hurdles
First, HEIs and industry can only collaborate if they evolve shared goals. HEIs predominantly seek to educate students and conduct research. They often focus on creating theoretical knowledge. On the other hand, industries are profit-driven and pursue practical applications of knowledge to enhance productivity and innovation. They may require a clear articulation of the applicability of academic research. An industrial company might be sceptical about funding a research project if it believes that the outcomes do not translate into prompt saleable applications. But HEIs may feel uneasy about the short-term focus of industrial projects. To resolve these issues, the two parties must engage in an open dialogue, develop a flexible attitude, and find common ground where theoretical knowledge and practical applications can coexist.
