New Orleans, Louisiana
June 26, 2016
June 26, 2016
August 28, 2016
In the fiercely competitive global marketplace, innovation alone is no longer enough. University-industry collaboration has been identified to be one of game changer to sustain the innovation ecosystem. Especially it brings a competitive, effective, and sustainable research-to-production-ready-solution in the advanced manufacturing. Many research centers have been established to provide a platform for collaborations between leading research universities and innovation industries. It may be useful to conduct a scientific study of such collaborations because of the profound impact that such centers have nowadays. In this paper, we first establish a mathematical model for the value-added to both collaborative parties in a university-industry link. Then we analyze the criteria a firm should apply to select an academic collaborator to optimize its payoff from its R&D investment. We also analyze the criteria a research team should apply to select a research project from a firm to advance its stock of knowledge.
Our analysis infers that the relevance of a research team's expertise to a firm's project is the essential factor in the formulation of the link between the two ends. Rationally, a firm shall collaborate with a university based on its relevance to the project rather than the universities' reputation/rank for the optimal return to the firm. But there is a different point of view from university. Although high relevance brings a firm large return, a university will contrarily prefer to take the project that has less relevance as long as the relevance is above certain level, which gives the university optimal return in the long run.
Zhang, J., & Lu, Y., & Xie, Z., & Haile, D., & Williamson, K. (2016, June), Game-Theory Approach on a University-Industry Collaboration Model Paper presented at 2016 ASEE Annual Conference & Exposition, New Orleans, Louisiana. 10.18260/p.26998
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