The collaboration between industry and academia has
been a hot topic of debate ever since the industrial age dawned with the
invention of the steam engine. So much so that one may be forgiven for
believing that there exists a conflict of interest between the two. You might
think that industry and universities seek different objectives.
The narrow view is that industry focuses only on its
survival in the brutal market whereas universities are more focused on
imparting knowledge for knowledge’s sake. Industry is driven by material
success, unlike universities that engender a culture of research and
development to their students. This so-called conflict of interest is what
makes the relationship between industry and academia a somewhat tenuous one at
times. But this is the wrong way to look at this linkage. Rather this is a
truly mutually-beneficial arrangement that is essential to the long-term
success of both parties.
This is a symbiotic relationship in the truest
sense. The practical view is that the world of academia serves as a proving
ground to create the talent pool that industry needs in order to progress. They
provide well-trained, enthusiastic, energetic, and inquisitive students who are
eager to make their mark in the industry. In turn, before the students are
industry ready, the universities expect industry to provide them with practical
exposure and an opportunity to apply their theoretical knowledge to practice.
There are also ample opportunities for learning
from each other. Corporate veterans have the benefit of experience and practical
knowledge and the universities and students have exposure to new methodologies and
a flood of innovative ideas. Students can learn from the guidance that industry
can provide. This helps them expand the scope of their knowledge and temper it
with a bit of real-world realism. Industry, in turn, can incorporate these
fresh ideas and methodologies into their own ways of working. Every now and
then, industry needs that breath of fresh air to sweep out age-old ideas and
obsolete methodologies.
Creating a mutual relationship is vital for both
industry and academia. Such collaborations provide:
- Amalgamation of Different Cultures
Many
companies look forward to tie-up with different universities for their academic
and internship programmes which brings different cultures together. Students
from different universities get to share space and ideas with each other. This
amalgamation of students from different educational backgrounds and culture
proves beneficial for the industry. As for students, they get exposure to the
working culture in different industries and learn from the leaders out there.
- Industry-Ready Workforce
Among the
biggest challenges for a growing economy like India is the availability of
talent to take up key industry roles. The key issue is volume – with growth
comes the need for hundreds of thousands of keen minds and active hands. As
academia strives to educate these students industry must strive to train them.
The end objective is a steady pipeline of people with both the theoretical
knowledge and the practical skills that industry needs.
- Research and Development
Academia
is well placed to help solve the pressing problems of industry with inventions
and innovative approaches. This calls for a collaborative effort to identify
the key issues that must demand attention. An ongoing partnership is needed as
academia seeks opportunities to apply scientific rigour to isolating the
problems, addressing the root causes, and providing workable solutions. This
may also call for funding from industry as some of these issues may take time
and effort to address.
Benefits
If a true partnership is forged, the benefits are
many.
- For Industry:
·
Creating an
enduring talent pool
·
Having
access to student research at university level
·
Long-term
relationship with students
·
Optimizing
the work methodologies in line with the latest trends
·
Saving
resources on employee training
·
Creating
a brand value in the market
- For Students:
·
Exposure
to the actual working of an industry
·
Securing their
future with assured employment
·
Enhancing
work and management skills
·
Funding
and real-world testing opportunities for their research
The industry can collaborate with universities in
many different ways such as:
- Internships: Allowing students to work for a short period
of time to gain insights into how the real world functions and to get
experience on the job.
- Job-integrated study programs: Providing learning and
personal development opportunities for their existing staff for specific
courses as required or demanded by the job.
In our rapidly changing times, such collaboration
is going to get increasingly more important. It’s a coming together of
complementary forces that have so much to offer to the betterment of the other
party that any other way would just be illogical. And say what you will,
neither Industry nor Academia can be accused of following a path that is
illogical!
