On the example of the activities of the Bielefeld University of Applied Sciences (Fachhochschule des Mittelstands Bielefeld – FHM Bielefeld, Germany) as a key participant in the UNICOM project, the modern university’s implementation of its Third Mission – its fulfillment of its public purpose and observance of public responsibility – is considered. A comparative analysis of the four missions of a modern university was carried out, thanks to which the necessary relationship between them was revealed as an integral prerequisite for the successful functioning and development of a modern university. A modern university implements its Third Mission primarily in close interaction with communities and industrial communities – both local (primarily) and quite distant (additionally). At the same time, the university must find a balance between meeting the needs of different social groups, guided both by the principles of social responsibility and the interests of the university and these groups. FHM’s training concept is to be close to practice and compact in the transfer of knowledge. This concept is based on four essential characteristics: application-oriented, profiling, interdisciplinarity and internationalization. Four main organizations in the structure of FHM Bielefeld enforce the active networking of people, with the motivation and expertise to enable groundbreaking projects and solutions aimed to strengthen the innovation ecosystem of the city. Applied research and third mission are conceptualized in the steps of preconditions, activities, results and consequences. The third mission includes the implementation of a cooperation project with a civil society actor or the implementation of a continuing education program designed together with a company. The close interaction of universities with local communities is primarily aimed at ensuring the interests of university stakeholders from local civil society and should be based on academic virtues and values.
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