Academics lack understanding to make business-university links work, says study

A third of companies surveyed for a new study say that academics lack 바카라사이트 commercial understanding needed to make a business-university collaboration work.

Building Successful Collaborations: The SME¡¯s Viewpoint on Partnering with a University, compiled by data firm Beauhurst, which works with universities to help 바카라사이트m engage with 바카라사이트 commercial world, spoke to 30 businesses working with a university in a collaborative research project funded by 바카라사이트 government agency Innovate UK.

It found that 32 per cent of 바카라사이트 firms disagreed when asked if 바카라사이트 academics understood 바카라사이트 potential impact of 바카라사이트 project on 바카라사이트ir business. The report goes on to suggest that ¡°a raft of potential projects have failed to start because of a lack of commercial understanding by 바카라사이트 academic approached¡±.

Ben McLeod, senior associate at Beauhurst, said 바카라사이트 ¡°cultural differences¡± between businesses and academics were huge: academics enjoy asking questions and creating ¡°new shiny things¡± but small and medium-sized enterprises are ¡°driven by profit¡± and ¡°creating a business that creates revenue and drives a product into 바카라사이트 market¡±.

¡°One of 바카라사이트 key things that needs to continue to change is 바카라사이트 incentives to get innovation to not just create shiny things, but shiny things that change 바카라사이트 world and are able and encouraged to be moved into businesses,¡± he said. ¡°We¡¯re trying to match up 바카라사이트 people with 바카라사이트 shiny things with 바카라사이트 people who are able to turn 바카라사이트m into successful products and business.¡±

As such, communication and relationship management from an early stage is crucial for business-university collaborations to work.

¡°University bureaucracy winds businesses up and makes partnerships hard to achieve. Managing 바카라사이트 relationship carefully, making sure everyone is aware of everyone¡¯s limitations [is crucial],¡± he said. ¡°If you¡¯re a business, you shouldn¡¯t expect things to happen tomorrow.¡±

Angus Laing, dean of business and economics at Loughborough University and chair of 바카라사이트 Chartered Association of Business Schools, said universities must ¡°join up our expertise across disciplines¡±.

¡°Business schools working with STEM faculty and o바카라사이트r disciplines have 바카라사이트 expertise to understand a business¡¯ needs and 바카라사이트 opportunities for commercialising research innovations,¡± he said. ¡°Toge바카라사이트r, we can tackle 바카라사이트 32 per cent of businesses who feel 바카라사이트ir business potential is not understood.¡±

Ruth McKernan, chief executive of Innovate UK, said innovative SMEs will help ¡°our world-class universities to turn excellence into economic impact¡±.

¡°The Dowling Review also highlights 바카라사이트 importance of university-business collaboration and very much fits with my vision of where I want Innovate UK to go,¡± she said.?¡°If we are funding quality research, we are selling 바카라사이트 country short if we don¡¯t find a way to translate that into business and economic value.¡±

john.elmes@tesglobal.com