[vc_row][vc_column width=\”1/4\”][vc_single_image image=\”7487\” img_size=\”full\” alignment=\”center\” css_animation=\”fadeInDown\”][/vc_column][vc_column width=\”3/4\”][vc_column_text]Prof. Max Lu, President and Vice-Chancellor, University of Surrey, UK
Abstract Title: Accelerating Innovation through Effective University-Industry Partnerships
When: Day 1 (14th November, 2017) | 11:40 – 12:20[/vc_column_text][vc_separator css=\”.vc_custom_1494751736257{margin-top: 0px !important;margin-bottom: 0px !important;border-top-width: 0px !important;border-bottom-width: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\”][vc_column_text]Abstract:
The conventional definition of innovation is successful translation of new ideas to social benefits. In my definition, innovation is simply any significant advance in technology, process or policy that leads to benefits for humanity and our planet. However, the word “innovation” is often over-used whilst it is high on the agenda in every nation and region’s government policy. How to accelerate innovation for social, health and environmental benefits under increasingly complex and challenging conditions, is a potent question which calls for some new thinking.
One of the new paradigms of innovation is no doubt “open innovation” which is all about finding new ideas and applying them to beneficial purposes from anywhere, everywhere. It involves producing the new knowledge and ideas both within and outside an organisation, and exploitation of these innovative ideas through multiple and diverse routes. Therefore collaboration and partnership will be key to successful open innovation. This is where universities and industry (business) do come in as key partners in the process, which renders perfect opportunities for taking new ideas from early stage to market-ready, an open collaborative framework.
This paper builds on successful university-industry partnership examples, and highlights several key factors pertinent to the success of university-industry partnerships:
- A common objective including the values that the partners could add to each other must be established, before starting a relationship
- Establishment of a transparent and effective relationship recognising the technical strengths and weaknesses of both parties is essential
- It is imperative to recognise the difference in nature of academia and business thus understand and meet the different needs of the partners
- Constant communication in both formal and informal channels, virtual and face-time meetings is key.
- The most successful partnership emphasises on people dimensions including effective exchange of talent, skills training and reputation enhancement, besides the assessment of technology and innovation outcomes.
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