Collaborations between companies and universities are critical drivers of the innovation economy. These relationships have long been a mainstay of corporate research and development (R&D) — from creating the knowledge foundations for the next generation of solutions, to serving as an extended “workbench” to solve short-term, incremental problems, to providing a flow of newly minted talent. As many corporations look to open innovation to augment their internal R&D efforts, universities have become essential partners. Indeed, companies now look to universities to anchor an increasingly broad set of innovation activities, especially those grounded in engaging with regional innovation ecosystems. Silicon Valley, Kendall Square in Cambridge, Massachusetts, and Block 71 in Singapore are among the most visible innovation ecosystems where universities are essential stakeholders in an innovation community that also includes corporations, government entities, venture investors, and entrepreneurs.
