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Build industry partnerships
Build and scale up partnerships with industry
Partnerships and collaborations between academic researchers and industry partners can be mutually beneficial and lead to many exiting and cutting-edge innovations, but these do not happen overnight.
Key takeaways
Industry partnerships can benefit your career, diversify your research income, and provide access to resources and opportunities outside of the university.
Leverage existing networks or connections to get your foot in the door, and don’t be afraid of social media.
When first partnering with industry, start on a small project and work your way to larger ones.
Clear communication and systematic project management are key to a successful outcome.
Read time: 7 min
What are the benefits of building industry partnerships?
Building relationships with industry can offer significant benefits to researchers. Gaining exposure to industry processes and priorities will broaden your understanding of market analysis, value propositions, innovation, intellectual property (IP), end-user preferences, manufacturing modalities (e.g. traditional vs 3D printing), regulatory requirements, marketing channels, and so on. Much of this knowledge is useful regardless of whether you end up formalising an industry partnership, because it teaches you about product differentiation – where the ‘product’ might be you (fellowship application) or your research project (grant proposal).
Potential for commercialisation
Taking cues from industry also provides a roadmap for steering your research efforts toward areas that are primed for translation into the commercial sphere, are well-funded, and have a lot of public and private interest. This is because translation and impact are absolute necessities for industry success: translation = sales = survival (plus profits to re-invest into new development programs). Industry partners can help you, via R&D and commercialisation, to translate your research outcomes into real benefits to society.
Enhanced real-world impact
Having ‘early warning’ of what industry is looking for (maybe the next blockbuster drug, or a new device) will mean you are well positioned if it turns out that your research is just what’s needed to make it happen. Industry is at the coalface of real-world problems that only you, as a researcher, may be able to solve.
Access to industry expertise and resources
Formal partnerships with industry can give you access to facilities, equipment and expertise that may be unavailable at the University of Sydney. This can advance your research and enable mutual knowledge transfer.
Ways of engaging with industry
There are a range of ways that you, as a researcher, can engage with industry partners. These can include:
- contract research
- testing and consultancy services
- industry-sponsored or -hosted clinical fellowships
- early stage/preclinical R&D – anything from being a scientific advisor through to a full collaboration involving both parties providing facilities, personnel and funding
- investigator-initiated clinical trials
- pharma-sponsored clinical trials
- industry grant programs (e.g. Bayer, Hort Innovation, etc)
- Australian Government schemes involving industry such as ARC Linkage funding schemes, NHMRC Development Grants, and NHMRC Partnerships Projects.
How to start building industry relationships?
Leverage existing relationships
Your supervisor, mentor or a colleague may already have a relationship with a company and can give you an introduction. Also, you should exploit formal and informal networking opportunities within the university, at academic conferences and industry-sponsored events, and via your own social connections or social media (such as Twitter or LinkedIn).
Make sure your supervisor is aware of your intentions
If you are part of a research group, you should be careful not to compromise your obligations to your supervisor and group when seeking to build industry relationships. You need to make sure that the company you’re interested in is not in competition with a company your supervisor already has a relationship with!
‘Test the waters’ before plunging into an industry relationship
Begin informally by swapping top-level ideas and ascertain if there is mutual interest between you and the industry partner, but be careful not to give away any ideas that have not first been registered or patented. Most importantly, gauge if the partner would be good to work with before committing to a large project. One idea is to start on a small contract research project and go from there.
You will also need to practise your ‘pitch’ before meeting with a potential industry partner. In an initial conversation, industry people will be looking for your key points and alignment with their interests. Hit them with the big idea in 3 minutes or less. If they’re interested, they’ll ask for more. Eventually they may invite you to present a pitch at their headquarters. This can be longer than an hour and is something of an art form. Talk to your faculty’s Business Development Manager (BDM) (UniKey required) for advice and support.
Tips for partnering successfully with industry
Communication is key
Industry partners expect to be kept informed of any updates related to a project, and decision-making on collaborative projects is almost always done jointly by a mutually agreed upon committee. Good relationship management based on clear communication, can often lead to further collaborations, even if the initial project does not result in a commercially-viable output.
Have clear objectives and a shared vision
It is important for both you and your industry partner to have clear objectives and a shared vision of the partnership – including the mutual benefits of the relationship – and these should be agreed upon and clearly communicated to avoid any misunderstandings.
Be aware that industry is subject to both market and shareholder pressures
Market downturns can affect R&D funding, staffing numbers, and overall strategy. Significant spending must usually be justified, particularly if it involves a deviation in strategy - spending will be tightly controlled and is usually dependent on hitting milestones. This can be different to how universities operate.
Have realistic timeframes
Processing contracts or agreements often moves faster in industry than at universities, where it can be many months after a grant has been submitted that you will hear of the outcome. It is important to keep this in mind when initiating a project to ensure that you and your industry partners have realistic timeframes when collaborating.
Project management is vital
Industry usually puts in place many checkpoints to monitor progress and has more stringent reporting requirements than government. Project management is important to ensure outcomes are met and deliverables are made within budget and on time.
Traps for new players
Engaging with industry has significant benefits to both researchers and their partners, but there are a few points to consider that will ensure the burgeoning relationship is fruitful for all parties.
Be careful not to inadvertently give away your IP
By publishing unprotected ideas or even disclosing them by word of mouth, you may be inadvertently giving away your IP. If you are unsure how to present your ideas without disclosing your IP, speak to your BDM (UniKey required). If you think you’ve discovered something novel, contact the Commercialisation Office, who will help you complete a Record of Invention and assess if you may be able to protect your IP. Know that patenting and publishing can easily co-exist, but the key is early disclosure to the university, ideally 3 months before you plan to publish. This will allow the Commercialisation Team time to prepare and submit a patent filing, without delaying your publication.
Budgeting for industry-sponsored work is different to budgeting for government grants
Budgeting for industry-sponsored work is value-based, whereas for government grants it’s cost-based. The Commercialisation Office can provide you with helpful budgeting tools and give you advice.
Be mindful of regulations
For example: If you’re working with a foreign company on R&D involving certain biological agents, the Defence Trade Controls Act (which controls the transfer of defence and strategic goods technologies) may come into play. Read more about this and about international collaborations here (UniKey required).
Negotiating contracts with industry can be a minefield for the inexperienced
You are strongly advised to contact the Commercialisation Office or the BDM for your faculty (UniKey required) to help you negotiate the best deal.