A Proposed Model for the Academia-Industry Collaboration: A Case Study

The academia-industry interface is very much important, and, despite of the challenges that inevitably and inherently occurs as well as bears the potential for positive synergies to emerge evolve and innovate. In the present competitive market environment, industries and the companies must achieve a high level of performance that's leading to the optimum error free production of innovative products as well as rewarding customer needs and rapidly responding to the changing market demands. The academia industry collaboration comes into picture when there is a mismatch between the academic lesson and the learned knowledge with the industrial practical based application. The demand the supply of the product that is nothing but the fresh graduates does not meet the preferred value system of the industry standard. The gap in between these two having lots of reason and put a heavy impact in the placement of the fresh graduates. An experiment based theoretical framework has been proposed to find the misunderstanding and the optimized solution to identify collaboration practices with industry and partners from the economic environment in open innovation.