The emerging era of science-based collaborations between academia and industry offers advantages to both entities and a means by which academic institutions and industry can address global challenges to their mutual benefit and the well-being of society. When academia-industry partnerships work well, they can facilitate research discoveries reaching the people who need them and serving the purposes for which they are required, at affordable prices. Additionally, the combined credibility and influence of academia and industry can achieve beneficial results for society more readily than when the sectors work in isolation.
With all industries and businesses increasingly dependent on human resources in a knowledge based economy, business will need to increasingly rely on universities which remain world class and diverse. Universities and business will need to cultivate mutually beneficial and lasting relationships with one another. In this emerging framework, robust high-quality, long-term relationships, based on two-way investments of time and resources, are becoming essential to understand, influence and improve the interactions between both sectors. To forge ahead with this transformation universities will need to leave the campus and engage with industry. At the same time, industry and government can facilitate the development of close links with universities by venturing onto campus for regular discussion and exchange of views on matters related to the preparedness of graduates for the workforce, and collaborative research. Individual academic staff members will often engage with professions in industry, adopting leadership roles in professional bodies, undertaking commercial research or consultancy, and often volunteering to participate with industry and the professions in areas of mutual interest. This strategic partnering needs to be encouraged at organisational level, as well as around personal links.
There are a number of key priorities for III Cell:
- Business and universities need to expand the range of ways they engage with each other to enhance capacity for growth and development at regional, state and national levels.
- University and business leaders need to seek new strategic partnerships and forms of involvement.
- Universities need to embrace more fully their ‘third role’ of community engagement and leadership.
- Staff and students within universities need to be encouraged in their efforts to engage with industry, and there needs to be an increased acceptance and rewarding of such efforts.
- Industry and universities have a key need to work in partnership to advance knowledge through research and development in order to enhance industry capacity for innovation
The objective of the IIICell is to reduce the gap between industry expectations (practice) and academic offerings (theory) by direct involvement of industry to attain a symbiosis.All the Stakeholders, namely: Institutions, Industry, Students and Society stand to gain as it can be a win-win partnership. The Institutions stand togain by way of up to date curricula, source ofrevenue generation by consultancy and R&D, source of manpower for employment, societal relevance and most importantly acquisition of brand name/equity. Theindustry stands to gain by way of availability of employable manpower pool and increased productivity. The faculty gain by way of exposure to latest industry practices for more effective teaching- learning processes. Thestudents stand to gain by way of hands-on training, reduction of learningcurve in industrial practices; and, society stands to gain by way of improved quality of goods and services.