startup
How industry university collaboration help startups:
Service Industry is getting cheaper day by day as majority of the people are interested to offer service rather than inventing something new. Why? Two reasons.
- Most of the times service can be offered with an individual’s skill set for a cheaper price.
- Providing service is much easier than developing a product.
Every nation has to invest a lot on research as we have pool of human resource talent in many areas. What is a service? If you observe it, product need a service, if there is no product, no service required. Dear reader, let me explain in detail.
Related Articles
Let’s imagine a situation no one is interested to invest in innovation and research, to whom do you provide the service.
- An IT service is being provided to enhance a product, maintain it or build it from scratch.
- If there is no car manufacturer, why do we need a servicing center.
- For how many service providers you are paying to construct a house? If you don’t construct a house?
Why does industry scare to invest on innovation?
Most of the companies are scared to invest in innovation as it is feeding an white elephant. Companies don’t like to get into innovation though they know gaps and market need because of two reasons 1. No guarantee about returns 2. Deviating their core business model. Associating with Universities may fix this problem. Apparently, it is not a new concept that I am introducing. However, I would suggest to encourage universities to associate with small and medium size companies either because they may have more unique ideas than big companies.
Find out few energetic guys who have entrepreneurship mindset from existing employees and setup entrepreneurship cells within the companies, associate with universities and pick up research students. This association minimizes a lot of cost for companies on human resource and infrastructure.
Advantages to industry:
- Well operational existing labs save money to companies.
- Don’t need to spend on working space.
- Researchers can help current research trends that would be useful for the design and development of innovative processes.
- Bringing researcher mindset to industry.
- University- Industry collaboration would increase the reputation of a company.
Advantages to University:
Which is first, chicken or egg?
- Inventing a new product and introduce to market?
- Develop a product which based on market need?
Both may work but second option has more chances to succeed. The collaboration helps universities to create LIVE environment.
- Faculty will have industry exposure.
- Researchers will have ready platform to get into companies.
- Universities can adopt industry best practices and well defined processes.
- Researchers can understand market behavior.
- Researchers can understand technology gaps.
Most of the innovations happened from universities. Apparently, universities can play vital role in startup ecosystem as well. Few of the premier universities already have good startup ecosystem. However, I wish every University should create the ecosystem so every student can have privilege to industry before completion of their academics. I have been hearing from majority of the people that our education system has to be changed. What has to be changed? Simple answer is: let every student know what society, industry and market need is? Eventually they can survive.
Other collaborations to strength the ecosystem:
Alumni can collaborate with universities to implement their ideas and utilize university resources. Serial entrepreneurs, investors and mentors have to associate and share their valuable experience with universities to strengthen Industry-University collaboration.
Sooner or later service industry is going to be weaken and its contribution towards economy and creation of jobs will go down. What is going to replace? I believe startup ecosystem with university collaboration can create jobs.
Revenue sharing between industry & Academy:
Product: Developing products by collaborating with companies.
Contribution from university: Human resource and Infrastructure.
Contribution from Company: Leadership, idea tuning , business strategy, Architecture, and Product designing and promotion.
Revenue: Based on the contribution product revenue will be shared.
Research: Innovation drives technology.
Contribution from university: Human resource (researchers/scholars) and Infrastructure.
Contribution from Company: Leadership, idea tuning , business strategy, Architecture, and Product designing and promotion.
Revenue: Based on the contribution product revenue will be shared.
Consulting: Professors, industry experts and scholars can form as team for consulting services.
Revenue: Based on the contribution product revenue will be shared.
Recommended Article:
www.saranmok.com/startup-kit/startup-ecosystem
The post How industry university collaboration help startups appeared first on Saranmok.
This post first appeared on Startups And Entrepreneurs | Startups And Entrepre, please read the originial post: here
