Real-World Projects Through Industry-Academia Collaboration

Published 26 Mar, 2024

As the world is moving towards digitisation and new technologies, the traditional boundary between academia and industry is slowly being reshaped. The symbiotic relationship between educational institutions and businesses has given rise to a paradigm shift in the form of industry-academia collaboration. It is nothing but an interaction between the higher education system and industry to exchange knowledge and technology. It provides organizations with a mix of academic rigor and practical expertise. Moreover, enterprises nurtured within academic institutions have their workforce from a pool of intellectual talent, united by a shared commitment to solving real-world challenges. Students gain significantly from these companies through industry academia collaborations by aligning with their mission, contributing their perspectives, and actively participating in problem-solving endeavors.

Exposure to the Outer World

Today education is no longer limited to the classroom, collaborations between industry and academia can provide exposure to students in the real-world setting. Often theories which students read from books might not impact the way a real-world setting will. Some recent reports claim that around 81% of students feel that it is important for schools and institutions to offer real company-led projects for better learning. Therefore, collaborative research projects, internships and industry expert-held workshops can help students gain valuable insights into the practical applications of their academic learning. This will help students prepare for the complexities that they might face in the future.

High Opportunities for Employment

Speaking on employment Opportunities, Anoop G Prabhu, CTO & Co-Founder Vehant Technologies, “One of the most critical concerns for every student who is transitioning from education to the workforce is the employment opportunities afforded by their education. With industry-academia collaboration, students can feel less worried about employment as this collaboration enhances students’ employability by providing them with relevant skills and experiences sought by employers. According to a survey by the National Association of Colleges and Employers, 91% of employers prefer hiring candidates with work experience, which includes co-op and internship programs.

Mentoring & Network Building

IIndustry-academia collaborations open a window for students to connect with industry experts. This not only exposes students to practical knowledge but also allows them to build professional networks. According to Mentorloop, 97% of people with a mentor say they find the experience to be valuable. Through collaborative projects, students can establish valuable connections that may lead to internships, job opportunities, or mentorship.

Open Access to Advanced Technology

Being able to connect with industry experts students can have open access to cutting-edge technology when industry experts partner with educational institutions. This exposure empowers students to familiarise themselves with industry-standard practices, enhancing their readiness for future career opportunities. Over the past years, numerous initiatives have been taken by the government to reduce the obstacles that industry academia collaborations face. This includes technology innovation hubs in different sectors, settings of research parks and many more. However, it is important to understand that industry works in a fast-paced world, prioritising products and profits whereas academia focuses on research and education. So while engaging both must have reasonable expectations from each other as well as awareness and sensitivity towards the other’s priorities and operating environments to ensure a win-win partnership. In short, industry-academia collaboration is reshaping the landscape of education by offering students the opportunity to connect with industry experts for real-world projects. As education continues to evolve, fostering strong partnerships between academia and industry will be crucial in preparing students for the challenges and opportunities of the professional world.

Source: Financial Express