University-industry collaboration and its effects on innovative thinking among students

Abstract

Due to the pressure for industry to constantly innovate to keep the leading edge, companies are more and more pursuing external sources of innovation to speed up the innovation process. University{industry collaboration, which is later referred to as UIC, enables open innovation, co-creation and the collective creation of knowledge. Hence, it is an attractive opportunity for both university and industry. UIC can create value by improving innovativeness, but the potential for innovation due to the direct collaboration between industry and students has not been investigated thoroughly so far. This research project aimed at lling the research gap about industry student collaboration by increasing the understanding of the value that the involvement of students in UIC could create and by investigating if students' innovative thinking develops due to the interaction with industry and hence can complement co-innovation processes in the future. The research project has been conducted through a qualitative cross-sectional study. To get a more universal overview of UIC, interviews were conducted in Sweden and the USA. Findings indicate that UIC creates value for university, students, and industry. Especially for students, there is more value created and also industry can bene t from additional value created. Students get real-life experience and project-based learning, which leads to a richer learning experience. Furthermore, collaboration with industry improves employment opportunities for students. Students can use UIC to build their network. Regarding industry, there can be a positive impact on a company's reputation. Moreover, students bring in a fresh perspective, re ection, inspiration, energy and enthusiasm. The students also dare to question the status quo and make the companies rethink how things are done. Through the collaboration companies get access to new knowledge and innovation tools. Collaborating with students can also help companies to prepare for the future. Furthermore, industry student collaboration has a positive e ect on innovative thinking among students. The research project showed that innovative thinking can be learned, and that industry student collaboration can help to develop it. Participating in an education program that combines theory and practical experience or founding a student start-up can be used to develop innovative thinking.