Industry-Academia Collaboration: Conflicts and Strategies to Stimulate Innovation and Employability

Abstract

Industry-Academia relationship is an essential element to generate innovation and employability. Systematic and coordinated approaches are absent in most industry and academy relationship which brings unsuccessful collaboration among them. Current trend of relationship between industry and academia failed to impact on revenue generation, hence was not able to create employment opportunity. Identification of the gaps between industry and academy will allow more outcome based research and innovation. Most research collaborations nowadays are ad hoc or opportunistic which often fail to meet the expectation and difficult to sustain in competitive world. Successful collaboration can be established if we are able to recognize potential sources of conflict and ensure that they are addressed properly. In this paper we address those gaps by presenting a systematic review of the literature on industry-academy relationship. Here we investigate on areas of conflicts, suggest strategies to overcome those and identify the driving forces that can stimulate the relation between industry and academy.