Developing indicators for the social benefits of university-industry collaborations

Abstract

This paper focuses on the social benefits of university-industry collaborations (UICs) based on the cases of winners of the Industry-Academia Collaboration Prize presented by the UK Royal Society of Chemistry (RSC) (2010–2023). The research question, which concerns the social and environmental benefits of UICs, has received little attention in the literature, as it focuses mainly on their economic effects. Taking the framework approach to thematic analysis, a list of thematic indicators, which serve as benchmark criteria for evaluating the social impact of UICs in medical, pharmaceutical and chemical industries, is developed. The use of a case study to identify indicators via this approach is appropriate for generating in-depth insights into the characteristics of UICs that have considerable societal impacts. Knowledge creation and contribution to training and improved skills levels constitute the main social benefits of UICs in the three industries cited above. Our findings have practical and theoretical implications, as they emphasize the importance of UICs in fulfilling a specific function in society, namely, facilitating research and developing skills that make the world a better place.