Academia-industry Innovation Interaction: Paradigm Shifts and Avenues for the Future

Abstract

Innovation is the application of an idea/invention, technology or process to a product/service that will satisfy a specific need and can be replicated at economical cost. Innovation creates value, playing a vital role in growth and social well-being. Mounting economic pressure, environmental challenges, diminishing resources, the exponentially accelerating pace of science and knowledge development, open innovation proliferation call for a deep assessment of academia-industry relationships. Fundamental research as the sole thrust of academia is no longer a sustainable approach. Instead, innovation must focus on the integration of fundamental and applied research, technology development, new business models and processes, and enhanced social responsibility. Innovation novel blueprint mandates paradigm shifts in mindsets, strategy, research focus, academia-industry relationships, IP policies and government involvement. Key elements include: academia's participation in industrial development teams and technology networks, enhanced support for fundamental and applied research, advanced thesis research conducted in the industry, creation of joint-value programs and resource-sharing, new business models, and enhanced societal responsibility. Academia should also promote the participation of industry representatives in their teaching staff and advisory boards. Special emphasis should be placed on institutionalizing innovation and on the role of small and medium enterprises, promoting their transformation into effective catalysts of change. EU authorities, academia and the food industry should collectively develop a mutual vision for reforming the “old push” curriculum into a “pull” ecosystem that attracts all stakeholders, enabling academia and industry to build trust-based relationships, promoting performance improvements in teaching, learning and entrepreneurship, and increasing social responsibility. Attracting venture capital to drive innovation, incubators and start-ups is also vital. Without compromising on the highest standards, adaptation and taking up these challenges is a necessity. Time is precious and it is our utmost responsibility to provide leadership, instil confidence, encourage and embark upon this journey to galvanize efforts and institutionalize innovation.