Unlocking Opportunities: The Value of Business-University Collaborations

Why Collaborate with Universities?

When considering a university, people often see them as centres of knowledge and education for students. However, universities extend far beyond this traditional role. They offer practical, business-focused research opportunities specifically designed to address business needs. This makes universities invaluable partners in innovation and problem-solving, particularly for smaller organisations.

The Benefits of Collaboration

For Businesses:

o Solutions to real-world problems, co-developed with expert academics.

o Access to innovative ideas and tools, such as those provided by students and researchers.

o Opportunities to educate and influence the next generation of professionals.

o Enhanced visibility and networking with university experts and peers.

For Universities:

o Real-world insights enrich academic research and teaching.

o Insights on what research will have an impact, supporting initiatives like the Research Exercise Framework (REF) to assess the quality of HE research

For Students:

o Hands-on experience addressing business challenges.

o Development of consultancy and problem-solving skills.

o Pathways to potential employment with partner companies.

For instance, HBS has supported a start-up in developing a professional website through collaboration with a postgraduate student. This partnership provided the company with a high-quality solution, the student with practical experience, and the academic team with valuable insights which can be fed into future teaching.

Access subsidised research with Hertfordshire Business School (HBS)

At the University of Hertfordshire, Hertfordshire Business School (HBS) provides multiple avenues for collaboration, including:

1. Subsidised Contract Research (SCR): This program that offers a 50% subsidy (up to ￡5,000) for projects valued at ￡10,000. It pairs businesses with academics and students to address organisational challenges.

2. Knowledge Transfer Partnership (KTP) Kickstart: A scheme that provides up to ￡6,000 in support (with a ￡1,000 company contribution) for refining ideas and preparing for a KTP.

Both schemes ensure businesses receive expert insights while enabling students to gain practical experience. We are currently working with an occupational therapy company benefiting from an ongoing SCR project that uses a Large Language Model (LLM) to generate environment-specific, clear, and transparent responses. This initiative benefits the company while advancing impactful academic research. It really is a win-win for the sector.

Why Your Involvement Matters

Businesses play a critical role in shaping university initiatives. By partnering with HBS, you can:

? Contribute to business-focused boards and projects.

? Shape curricula to align with industry needs.

? Build long-term relationships for ongoing mutual benefit.

Act Now!

If you would like to qualify for the KTP Kickstart or SCR schemes, applications must be submitted by Friday, 28 February.

For more information, contact: Professor Jyoti Choudrie

Email: [email protected]

Mobile: +44 7950 481708

Join us in creating impactful solutions and driving the next wave of innovation, through collaboration.