Breaking Barriers: The transformative power of university-industry collaboration

University and industry collaborative relationships are commonplace across the world and they take different shapes and forms. From R&D collaboration and commercialization of research results to shaping curricula and developing talent fit for the future.

The MIT and IBM have a long-standing partnership, Arm is collaborating with the University of Cambridge, Novartis with Harvard, Oxford University with AstraZeneca, the Korea Advanced Institute of Science and Technology (KAIST) works with Samsung, Tsinghua University with Huawei, ASML with the University of Eindhoven, in Hungary Audi works with the Széchenyi István University, Telecom Italia with the University of Catania, the VW Group with the Baden-Württemberg Cooperative State University and the list goes on.

Discussions on the benefits of synergies between universities and industry often focus on research and innovation solutions meeting specific industry needs. Economic impact is also discussed, since collaborations drive economic growth, job creation and commercialization of research. Yet there is much more to be said and even more to be considered.?

Effective collaboration between universities and industry partners can enhance workforce readiness and facilitate talent recruitment. Through collaboration, researchers and young talent can gain skills and real-world experience, all the while leveraging practical, market-driven insights provided by the industry. Industry partners can gain access to new perspectives to solve complex problems, optimize company processes and integrate new technologies in their products and services. They can further benefit from opportunities to attract and develop top talent, creating a pipeline of skilled staff to address their company’s needs. What’s more, partnerships with excellent research organisations can enhance a company’s brand, reflecting a clear commitment to new knowledge and innovation. In a similar manner, the interaction between the two can contribute to more attractive academic programmes, allowing universities to enhance their own brand as academic institutions committed to responding to labour market trends and shaping curricula in a way that can equip students with skills that will allow them to thrive in the real world. ?

At the RIF, we have been investing in university-industry collaborations in Cyprus through an array of programmes.

The Co-Develop Programme, first announced in 2022 aims to link the research community with industry. It offers up to €600.000 and as a minimum requirement, consortia should include at least one enterprise and one research organisation. ? The call currently open focuses on the co-creation of solutions in the areas of digital technologies, advanced materials, agri-food, health and the environment.

The PhD in Industry programme enables companies to enhance their workforce by collaborating with universities. Companies can either upskill current staff by supporting them in obtaining a PhD or recruit PhD students in fields related to the company’s activities. The funding covers salaries and other relevant costs of up to €150.000. There is a call scheduled for later in the year.

There is also the entry-level innovation voucher programme that companies can use to obtain services from research organisations. It offers €10.000.

These programmes, and more, can act as a stepping stone for long-term strategic collaborations, opening new avenues for further synergies and contributing to the country’s vision to become a powerhouse of research and innovation.? By strengthening existing ties and forging new ones, we can ensure that new knowledge flows freely, transforming the ecosystem and driving the country toward a better and more sustainable future.?