Key Success Factors Influencing the Sustainability of University-Industry Partnerships in South Africa

Abstract

Due to the inability of stakeholders to address local and global challenges independently, there is a rising need for partnerships between academia and industry. Higher education institutions are key role players in developing future employees, necessitating intervention strategies with industry. Conversely, industry is eager to absorb these employees in an effort to identify solutions to their ongoing concerns. As a result, establishing symbiotic relationships with one another becomes critical, since such partnerships have been known to address a wide range of challenges. This study, therefore, investigated factors that influence the sustainability of university-industry partnerships by means of a quantitative survey applied to exit-level higher education students and industry managers. A hybrid questionnaire was used to collect data, incorporating open-ended and closed questions. Some of the survey findings include solidification of contracts, dynamic stakeholder engagement, strategic planning initiatives and fostering commitment, resulting in re-engineered business processes and bespoke education. These findings have significant implications for the long-term viability of university-education partnerships. As a result, it is critical for stakeholders to prioritise investment in these partnerships recognising their significance as catalysts for innovation and drivers of economic progress.