Knowledge Exchange, Technology Transfer and the Academy

Abstract

The relationship between the academy and the business community is currently perceived to be important to the future of both parties. Universities provide graduates to meet the needs and requirements of society and industry, and the latter supplies products and services to meet the needs of the market place. Whether public or private, industry increasingly seeks to use tools and techniques that increase efficiency and effectiveness, whilst at the same time maximizing quality and minimizing cost. The current trend towards companies outsourcing their R & D requirements to reduce corporate overheads and optimize staffing levels means that Universities can utilize the opportunity and bid to supply this expertise. Universities also generate their own spin-outs from intellectual property they create, as well as licensing technology to industry, rather than transferring it. However, the relationship between university and industry is not without its challenges, chief of which is the historical commitment of the academy to advance knowledge whether it is directly applicable or not. In addition, there are many fundamental and important long term research issues that many would argue are the primary duty of the academy to address, which may have no direct application in the short to medium term. This is resulting in increasing tensions in the academy, and in the priorities for national and international funding agencies. There can also be significant cultural differences and reward models between the academy and industry which give rise to difficult issues for staff at the interface. This chapter reviews the current developments and the issues at the interface between business and the academy.