Universities and Industry: Thinking Beyond Traditional Research Based Partnerships
Author: Dino Rossi
University and industry partnerships have traditionally been based on the premise of delivering mutually beneficial outcomes through research. And in turn universities have used their research profile to establish a highly valued proposition in their market. Disruptive forces driven by emerging digital technologies, economic globalisation and changing government policy, gives rise to the question of whether universities should look to develop new value propositions and how taking a broader approach to establishing university and industry partnerships can support this.
In an increasing competitive market, universities can strengthen their position with industry partnerships.
New digital technologies and ubiquitous network connectivity, combined with economic globalisation is delivering increased competition in the education market place. The growing presence of online MOOC’s delivered by some of the world’s leading universities, along with the broadening availability of online degree programs, is offering students a variety of educational alternatives. Students are also becoming more discerning. They want to be confident that the time and money they invest in education will deliver the career outcomes they aspire to.
The increasing importance of student fee revenue, demands that universities develop a stronger value proposition for students. Differentiation can no longer be solely about a universities research status and campus lifestyle. The majority of students attend university to increase the probability of securing a job, thus are seeking confidence that their university of choice will provide the learning outcomes that position them to achieve their career goals.
Through establishing committed industry partnerships, universities have the opportunity to strengthen their position in an increasing competitive market. They need to consider how an industry partner can assist them in doing so and how they can gain that commitment for the medium to long term.