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Developing Successful Strategic Partnerships with Universities
Article

Developing Successful Strategic Partnerships with Universities

Lars Frølund, Fiona Murray and Max Riedel
MIT Sloan Management Review, 2017
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable
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Recommendation

Innovation-enhancing relationships between industry and universities are becoming more ambitious, more sophisticated – and more demanding of the partners involved. Writing for the MIT Sloan Management Review, innovation experts Lars Frølund and Fiona Murray and university relations consultant Max Riedel draw on four years of research, plus their collective experience with industry-university collaborations, to offer valuable insights into what these partnerships offer – and what they demand. getAbstract recommends this meaty article to R&D and venture executives and their university partners.

Take-Aways

  • Partnerships with universities can offer companies a wide variety of benefits, including deeper links into the innovation ecosystem.
  • By switching from ad hoc arrangements to strategic planning for these relationships, companies and universities enhance synergies and expand the benefits of collaboration. 
  • However, most companies don’t give adequate strategic forethought to their university partnerships.

About the Authors

Lars Frølund is a visiting fellow at the MIT Innovation Initiative. Fiona Murray is the William Porter Professor of Entrepreneurship at MIT’s Sloan School of Management and co-director of the MIT Innovation Initiative. Max Riedel is a consultant on university relations for Siemens AG in Munich, Germany.

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