International Journal of Commerce and Management Research

ISSN: 2455-1627

Vol. 1, Issue 2 (2015)

Academia-Industry interaction: Benefits and challenges

Author(s): Dr. Ekta Sharma, Dr. Sushil Sharma, Yatendra Sharma
Abstract: Academia-industry collaboration has always been a topic of discussion in both the sides. And still no model exists that is widely used. Indeed, the collaboration, world over, is quite limited. This just shows the difficulty of the problem. In this article, we discuss the different types of collaboration that are possible, particularly in the Indian scenario. In general open innovation framework via R&D and technical outsourcing activity has important effects on innovation. Thus significant and positive results between R&D and technical outsourcing and innovation in terms of products/services, processes and even organizational innovation. 
In India, currently due to shortage of high quality trained manpower, there is another possible area of collaboration. It is clear that the engineering education system, the way it has evolved, is currently not in best of shape, and will require a lot of help to improve. And it is also clear that, though traditionally the Government was responsible for higher education, relying on the Government alone will not solve the problem fast enough. So, the industry and the established education players will have to pitch in. Some companies and institutes have started some initiatives of their own on this front. But this seems like a very viable area for collaboration, where joint programs have a better chance of success. However, not much seems to be happening in this area, even though both sides can gain substantially from it.
• TEACHING, research and extension are the trio of higher education 
• Teaching - communicates knowledge to students, stimulating their interest in it, and preparing them to take up Industry/Academia job 
• Research - extends the frontiers of knowledge, and lends depth, breadth and authenticity to teaching 
• Extension - exploits existing knowledge for socio-economically beneficial purposes – i.e., the Industry-Academia Interaction 
• Major source of research funding for academia. 
• Industry gains valuable insight from key opinion leaders. 
• Complementary capabilities and skill sets. 
• Industry trends and practices. 
• Designing the course curriculum and other value added programmes based on industry requirements. 
rn• Source for external project sponsored by the companies. 
• Bring-in consultancy project. 
• Create employable students “Industry-ready students”. 
• Curricula, faculty, infrastructure, pedagogy improvements in line with the industry’s requirements of demand for skilled professionals.
Pages: 45-47  |  1514 Views  503 Downloads
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