{"id":11506,"date":"2022-08-04T08:56:23","date_gmt":"2022-08-04T13:56:23","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=11506"},"modified":"2022-08-04T08:56:23","modified_gmt":"2022-08-04T13:56:23","slug":"strategic-partnerships-with-universities","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/strategic-partnerships-with-universities\/","title":{"rendered":"Strategic Partnerships with Universities"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignright wp-image-11512\" src=\"http:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-300x200.jpg\" alt=\"\" width=\"273\" height=\"182\" srcset=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-300x200.jpg 300w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-1024x683.jpg 1024w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-768x512.jpg 768w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-1536x1024.jpg 1536w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Stock-image-1-Stgic-partnership-with-Uni-2048x1365.jpg 2048w\" sizes=\"(max-width: 273px) 100vw, 273px\" \/><a href=\"https:\/\/flevy.com\/browse\/flevypro\/strategic-partnerships-with-universities-6304\">University partnerships<\/a> not only serve as sources for people and ideas but are also a vital means for corporations to uncover ways of engagement with <a href=\"https:\/\/flevy.com\/business-toolkit\/innovation\">the larger Innovation ecosystem and driver of Innovation economy.<\/a><\/p>\n<p>These ecosystems do not merely comprise of universities and companies rather they have a whole Innovation community that includes government entities, venture investors, and entrepreneurs with universities as indispensable stakeholders.<\/p>\n<p>Although industry and universities have disparate missions, work environments, and organizational structures, more and more areas of mutual interest are being explored and discovered by them, and as a consequence more supporting infrastructure is coming into existence.<\/p>\n<p>Fruitful partnering with universities comprises of having the appropriate people, processes, and organizational backing to guarantee success and to detect and manage sources of conflict.<\/p>\n<p>Industry and universities now search for multidimensional partnerships that are shifting from:<\/p>\n<ul>\n<li>Singular to the institutional level.<\/li>\n<li>Informal individual associations to proper partnerships.<\/li>\n<li>Knowledge-gaining occurrences to development of fresh intellectual property and ventures.<\/li>\n<\/ul>\n<p>Past practice for industry-university partnerships has generally been ad hoc. \u00a0Modus operandi being someone from the industry requires a solution to a problem being faced, reaches out on their own to a contact in a university, and gets the job done.<\/p>\n<p>Now there is a shift from incremental problem resolution to strategic work on major challenges.\u00a0 Formation of strategic programs has led corporations to institutionalize dedicated units for university relations. \u00a0They are frequently positioned in <a href=\"https:\/\/flevy.com\/business-toolkit\/randd\">the corporate R&amp;D organization with reporting lines to senior management.<\/a><\/p>\n<p>A 4-year research project on forming, managing, and augmenting the inherently complex partnerships between university and industry has led to the development of following 6 questions that should be asked when choosing partners:<\/p>\n<ol>\n<li><strong>What are the business objectives that necessitate the university partnerships?<\/strong><\/li>\n<li><strong>What are the main focus areas in the university partnerships, and what selection process safeguards their alignment with the business objectives?<\/strong><\/li>\n<li><strong>Which yardstick has been applied to choose the principal university partners, who are they?<\/strong><\/li>\n<li><strong>What partnership arrangements pair with the set focus areas and business objectives?<\/strong><\/li>\n<li><strong>What human resource, process, and organizational structures aid the university partnerships?<\/strong><\/li>\n<li><strong>What key performance indicators are extremely effective for assessing the university partnerships?<\/strong><\/li>\n<\/ol>\n<p><a href=\"https:\/\/flevy.com\/browse\/flevypro\/strategic-partnerships-with-universities-6304\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-11509\" src=\"http:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Slide-Deck-Image-Stgic-Ptnrshp-with-Uni.png\" alt=\"\" width=\"1335\" height=\"752\" srcset=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Slide-Deck-Image-Stgic-Ptnrshp-with-Uni.png 1335w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Slide-Deck-Image-Stgic-Ptnrshp-with-Uni-300x169.png 300w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Slide-Deck-Image-Stgic-Ptnrshp-with-Uni-1024x577.png 1024w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2022\/08\/Slide-Deck-Image-Stgic-Ptnrshp-with-Uni-768x433.png 768w\" sizes=\"(max-width: 1335px) 100vw, 1335px\" \/><\/a><\/p>\n<p>Let us delve a little into details of some of the questions.<\/p>\n<h2><strong>What are the business objectives that necessitate the university partnerships<\/strong>?<\/h2>\n<p>Articulating the goals that drive the company-university relationship is key to making that partnership effective.<\/p>\n<p>Corporations have many motives for desiring to participate in university partnerships, and they frequently have trouble expressing their goals in clear business terms.<\/p>\n<p>Tackling this 1<sup>st<\/sup> question, which organizations seldom do, generates a chance for a company to paint <a href=\"https:\/\/flevy.com\/business-toolkit\/goal-setting\">an organized picture of its business goals<\/a> and the manner in which they link to its university interactions.<strong>\u00a0<\/strong><\/p>\n<h2><strong>What are the main focus areas in the university partnerships, and what selection process safeguards their alignment with the business objectives<\/strong>?<\/h2>\n<p>Innovation priorities outlined in the business objectives should be the basis of selecting key focus areas for the university partnership.<\/p>\n<p>In order to make sure that university partnerships line up appropriately with the company\u2019s business objectives, the selection process for such partnerships should be as thorough as an equivalent internal process would be.<strong>\u00a0<\/strong><\/p>\n<h2><strong>Which yardstick has been applied to choose the principal university partners, who are they<\/strong>?<\/h2>\n<p>There has to be stringent and transparent criteria in companies for partnering with universities.\u00a0 It should be such that it can also be shared and understood by universities.<\/p>\n<p>Interested in learning more about the 6 Questions, the 6 Benefits, and the 8 ways of partnering with universities?\u00a0 You\u00a0can download\u00a0<a href=\"https:\/\/flevy.com\/browse\/flevypro\/strategic-partnerships-with-universities-6304\">an editable PowerPoint on <strong>Strategic Partnership with Universities<\/strong> here\u00a0<\/a>on the\u00a0<a href=\"https:\/\/flevy.com\/browse\">Flevy documents marketplace<\/a>.<\/p>\n<h2>Do You Find Value in This Framework?<\/h2>\n<p>You can download in-depth presentations on this and hundreds of similar business frameworks from the\u00a0<a href=\"https:\/\/flevy.com\/pro\/library\">FlevyPro Library<\/a>.\u00a0 <a href=\"https:\/\/flevy.com\/pro\">FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives.\u00a0 Here\u2019s what some have to say:<\/p>\n<blockquote><p>\u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market.\u00a0 They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.\u00a0 I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>\n<p>\u2013 Bill Branson, Founder at Strategic Business Architects<\/p><\/blockquote>\n<blockquote><p>\u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.\u00a0 For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>\n<p>\u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p><\/blockquote>\n<blockquote><p>\u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n<p>\u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>University partnerships not only serve as sources for people and ideas but are also a vital means for corporations to uncover ways of engagement with the larger Innovation ecosystem and driver of Innovation economy. These ecosystems do not merely comprise of universities and companies rather they have a whole Innovation community that includes government entities,&hellip;&nbsp;<a href=\"https:\/\/flevy.com\/blog\/strategic-partnerships-with-universities\/\" rel=\"bookmark\"><span class=\"screen-reader-text\">Strategic Partnerships with Universities<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":11512,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[2985,2908,2983,2986,2984],"class_list":["post-11506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","tag-partnership-with-universities","tag-partnerships","tag-strategic-partnerships","tag-strategic-partnerships-with-universities","tag-universities"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=11506"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11506\/revisions"}],"predecessor-version":[{"id":11519,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11506\/revisions\/11519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/11512"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=11506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=11506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=11506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}