Abstract
Abstract This paper presents the strategic and tactical approaches on university and industry collaboration in contemporary commercial climate. Studies have shown that only twenty percent of collaborations have resulted in successful tangibles that are industry- applicable. This ties back to the Outcome-Impact Gap whereby both universities and industries have different expectations and requirements to meet. This paper therefore provides a commercial approach which may be adopted by the university in propagating the collaboration resulting in a win-win situation. The approach is divided into two key areas; long-term strategic planning and tactical standpoint that will establish the groundwork for a successful collaboration as well as the handling of day- to-day operations.
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