Operate these partnerships effectively

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Their internal R&D efforts through open innovation, universities have become important partners. Indeed, businesses now expect universities to support an increasingly wide range of innovation activities, particularly those anchored in participation in regional innovation ecosystems. Silicon Valley, Kendall Square in Cambridge, Massachusetts, and Singapore are among the most visible innovation ecosystems in which universities are important stakeholders in the innovation community, which also includes businesses, government entities, venture capitalists, and corporates Home.

Therefore, in addition to serving as a source of talent and ideas for businesses, university collaborations are an important mechanism for businesses seeking new ways to interact with the wider innovation ecosystem. Following years of corporate giants such as General Electric, Siemens, Rolls-Royce and Job Function Email List Google working with universities, a variety of young companies including Amazon, Amazon, Google and Amazon have also made universities a key part of their early development. Innovation and new business strategies. Smaller, more regionally focused companies in sectors as diverse as mining and automotive are also beginning to believe that universities are key ecosystem stakeholders that support and shape regional economies.



For example, Cardiff, UK-based Compound Semiconductors supports the regional innovation ecosystem through a partnership with Cardiff University. The partners developed a translational research facility to train scientists and technicians in compound semiconductor technologies and support R&D facilities to help UK businesses capitalize on advances in these technologies. This collaboration between businesses and universities promotes an innovation ecosystem. While the desire for university-industry partnerships is easy to describe, many companies find it challenging to establish.