In the last decade, there has been an explosion in the number of research deals between companies and universities. Companies, which have been reducing their spending on early stage research for three decades, have been increasingly turning to universities to perform that role, seeking access to the best scientific and engineering minds in specific domains. And faced with stingier government support of academic research and calls for them to contribute more to their local economies, universities have been more receptive.
Why Companies and Universities Should Forge Long-Term Collaborations
In the last decade, there has been an explosion in the number of research deals between companies and universities. Companies, which have been reducing their spending on early-stage research (basic and applied or translational) for three decades, have been increasingly turning to universities to perform that role, seeking access to the best scientific and engineering minds in specific domains. And faced with stingier government support of academic research and calls for them to contribute more to their local economies, universities have been more receptive. Instead of one-off projects, both sides have become much more interested in forging long-term collaborative relationships. But familiar issues about navigating non-disclosure agreements and creating a flexible but constructive master research agreement that accounts for potential IP to emerge continue to be obstacles. The remedy: Replace the traditional conventional model with a relationship model that negates the need for a negotiation every time another research project is being considered. This durable cooperative model enables companies to partner with academia in a fashion that allows them to stay continuously connected to early-stage research and to accelerate the translation of that research into new products that drive economic growth.