Strategy

With so much belt-tightening going on, pouring precious financial resources into partnerships with universities might seem an unnecessary extra. But think twice before cutting these long-term R&D investments: the money you save today could be the innovation, and consequently, the competitive edge, you lose tomorrow. The author examines the integral role university research can play in industry innovation. To enjoy the fruits of your alliance, your firm and your research partners must share complementary goals – and carefully lay the groundwork for a healthy and productive long-term relationship. The long haul is essential, he stresses, as the real value of these university links can be the unexpected results yielded over time. What’s needed is a proper framework to balance the myriad issues involved, so that you can protect your firm from the competitive issues while leveraging the cooperative ones in these testing times.