BENEFITS

Benefits of University - Industry Collaboration for University at the present time, some benefits for university are seen as underlying stronger collaboration with industry as follows:

  • opportunity to attract additional funds for initial teaching and research thereby increasing financial autonomy of university, especially if government core funding is tightly linked to specific academic purposes,
  • cooperative research with enterprises as a lever to attract more public funds if there are governmental project funds for collaborative research programs,
  • acquisition or access to up-to-date equipment,
  • opportunities for faculty and students to become familiar with state-of-the-art industrial technology and management systems and enhancement of their familiarity of the constraints of industry,
  • improved interaction for the development and adaptation of degree programs,
  • improved employment prospects for students,
  • supplemental income from consulting, allowing academic staff to improve their salaries, and
  • enhancement of the university‚Äôs image as a contributor to the economy.