Australia must get better at creating meaningful collaboration between universities and business. The Federal Government flagged innovation in Australia as a major policy focus with its $1.1 billion National Science and Innovation Agenda in November 2015. Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School, shares his thoughts on creating meaningful collaboration between universities and business.
Bringing industry into the classroom
One way La Trobe Business School is working towards better engagement with industry is through hiring Professors of Practice. A concept born out of the school’s strategic decision to adopt an approach focused on bringing industry into the classroom. Professors of Practice, such as myself, are experienced practitioners in a relevant field of professional practice. We teach subjects and courses that provide a high quality and industry relevant learning experience.
Before I joined LBS, I was the Senior Executive Officer responsible for enterprises management, business planning, audit and protective security in the Commonwealth Department of Agriculture and Water. My experience leads me to be able to develop innovative teaching programs in the economics discipline and risk management practice that enhance the student learning experience, and enhance their career-readiness.
Bringing research into the market
Besides bringing industry experience into the classroom, we also build relationships by organising events where academia and industry can come together. The National Innovation Forum organised by La Trobe business School, NORTH Link and Deloitte Consulting P/L is a great example of such an event. More than 90 business, local government, academic and industry group representatives from Australia and internationally discussing the question:
How can we create sustainable bonds between universities, business and not for profits with a view towards creating a more mature innovation culture and ecosystem?
The discussions on strengthening collaboration are centred on maintaining industry-university connections and relationships through regular engagement and dialogue and the use of accelerators and incubators. Thus, universities need to create open collaborative spaces and networks with industry where there is potential to commercialise ideas.
This implies that each side needs to engage far beyond the traditional exchange of research for funding model. The implication is that we need strategic partnerships that better blend the research-driven culture of the university with the innovation/data-driven environment of business.
What more can universities do?
Forum delegate discussions and feedback show that some of the key points universities could consider in enhancing their engagement with industry are:
- Streamline the decision making processes in terms of entering into collaborative arrangements with industry i.e. make it easier and break down barriers.
- Changing the incentive system for academics to be equally rewarded for their industry engagement/collaboration as they are for their research.
- Focus on talking the same language as industry (i.e. business practice) rather than academic theory (shaped by the need to publish).
- Have a clear path of entry and handling strategy for business’ seeking collaboration opportunities.
- Hold regular events that give business an opportunity to access and learn about its research and R&D activities.
- Facilitate more frequent industry engagement/dialogue including events such as the National Innovation Forum which begin to bridge the gaps.
- Introduce staff industry placements/secondments.
- Work with industry on developing work-in-learning opportunities to develop more business ready graduates.
- Establish quicker processes for changing curriculum and subject offering in response to industry need and the changing nature of work.
- Offer all students opportunity to learn entrepreneurial skills i.e. to nurture start-ups and innovation.
La Trobe University, and La Trobe Business School, are already very active in many of these areas (e.g. La Trobe Accelerator Program; Professors of Practice, Work Integrated Learning and Placements; Industry and Community Engagement; Research and Innovation Precinct etc.) but we can always strive to do better.
Read the full NIF 17 Summary Report
This blog is part of the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School. The series was developed after the successful National Innovation Forum organised by La Trobe Business School, NORTH Link and Deloitte Consulting P/L.
More blogs in the LBS Innovation Series: