The future economy hinges on the interaction between business and academia, but untapped opportunities for collaboration remain, according to a new survey of nearly 4,000 companies

Companies are working with universities to solve a wide range of problems to unlock new opportunities and increase productivity, according to new research from the Center for Business Research at the University of Cambridge and the National Center for Universities and Business ( NCUB). However, collaboration is hampered by the lack of capacity of companies to work with universities, as well as the lack of information on partnership opportunities with a university.

A new report, released today, presents the results of a survey of nearly 4,000 companies about their interactions with universities. This is the largest survey of its kind ever carried out in the UK.

Dr Joe Marshall, Chief Executive of NCUB, said: “We are all feeling the effects of a challenging global economy. The government’s plan is to grow the economy and increase productivity through knowledge, research and innovation. More than ever, this requires our world-class universities to work with business to increase productivity and grow the knowledge-intensive economies across the UK. Our survey shows that more companies see the benefits of interacting with a university today than they reported in 2009.”

Dr Marshall continued: ‘However, the new research findings published today also clearly show that barriers still exist, in particular due to the lack of capacity of companies, as well as the lack of information provided by universities. This hampers greater collaboration and costs innovation in the UK. Now is the time for universities, businesses and policymakers to act on the findings to ultimately strengthen the ties with the private sector that are so essential to our economy and society.

Professor Alan Hughes of Imperial College Business School, who led the research at the University of Cambridge’s Center for Business Research, added: “The research published today is an important resource for those trying to understand the current state of interaction between businesses and universities. UK. This study draws on a range of work covering both academic and business perspectives on knowledge exchange between the UK and industry from 2005 to 2021. It is the largest ever sample of UK businesses and provides unique insights into the various types, forms and places of interactions. .

Recommend0 recommendationsPosted in Education

About Nancy Owens

Check Also

Conservative economic mismanagement has doomed us all

The economy grew just 0.8pc in the first three months of the year, 0.1 point …