Hospitals and Universities, Engaging Corporations on an Enterprise Basis

Companies are focusing on engaging with research universities and hospitals on an enterprise basis rather than just philanthropic. This is a smart shift because there are so many strategic benefits on all sides. Think of new products produced together to generate income, licensing, research & development and top it off with a philanthropic donation.


Take a look at a blurb in NARCRO’s  white paper that clearly frames the issue:

Companies were “pushing back” and making it clear that unlike government agencies or foundations, they are not in the business of giving away money that does not have at least a potential for business outcomes. According to the summer 2010 Sloan Management Review article, “Best Practices for Industry-University Collaboration,” industry interactions with academia are intended to “extract the most business value possible from [university] research.” Corporations no longer consider themselves to be simply donors to academia; they consider themselves to be investors and business partners, where knowledge creation and transfer are a significant part of the equation.