Collaboration between Academia and Industry: KU Leuven1 Collaboration between industry and academia has always been an important but complex topic. From a historical point of view, the core interests of both parties differ. Universities focus on educating people, creating new knowledge, and excelling at execution of existing know-how, while companies concentrate on mastering the challenges of a competitive environment and striving for market success. Each also has certain expectations of the other party: companies expect academia to provide state-of-the-art lectures to secure high-quality education, valuable and innovative knowledge, and groundbreaking methodologies, while universities expect their students to have access to business experience through internships and other opportunities to put their skills into practice. In addition, academics expect to be given the opportunity to transfer theoretical ideas into practical projects and to implement research in the real world. Both parties have fundamental points of interest, and this is where a win-win scenario can be achieved. However, because universities and companies have different business models, some investment needs to be made before mutual benefits can be reaped. Different types of collaboration between academia and industry are possible. This article discusses how successful collaborations are being created between KU Leuven and industry to promote innovation in industry and socioeconomic development. |