In recent years, colleges and universities have experienced diminishing levels of federal and state research funding, simultaneous with ever increasing innovation demands. As a result, many institutions are turning to new funding sources, such as industry, nongovernmental organizations, nonprofits and philanthropic groups to fill the gap.
Over the last 15 years, I have worked in academia to build lasting partnerships between universities and private businesses. Along the way, I’ve seen examples of what to do and what not to do.
