The Value of Academic and Industry Research Partnerships

In this episode, we discuss the immense value of collaborations between academic researchers and the corporate world, and how to make those partnerships successful. We often hear from faculty who feel like industry is a distraction from their core research or is too complicated and different to navigate. But today, we want to show you why university-industry partnerships are critical engines for research and innovation. These aren't just transactions; they are strategic relationships that can elevate your research impact far beyond the university.

Hosted by University of Minnesota Corporate Research Partnerships Managers Leza Besemann and Jason Stockman, "Bridging the Gap" is a practical podcast series designed to help university faculty navigate the complexities of collaborating with the private sector. 

Transcript

Jason Stockman 0:11

Hello, and welcome to Bridging the Gap, Demystifying University and Industry Partnerships. I'm Jason Stockman, Corporate Research Partnerships Manager, and with me is fellow corporate research partnerships manager Leza Besemann. Today we're here to talk about the immense value of collaborations between academic researchers and the corporate world and how to make those partnerships successful.

Leza Besemann 0:33

That's right, Jason. We often hear from faculty who feel like industry is a distraction from their core research or is too complicated and too different to navigate. But today we want to show you why university industry partnerships are critical engines for research and innovation. These aren't just transactions, they're strategic relationships that can elevate your research impact far beyond the university.

Jason Stockman 0:56

So let's start with the immediate and tangible benefit of these partnerships, specifically funding. In an era where federal budgets are significantly tightening, industry sponsorship can be a game changer. These partnerships can help diversify your funding portfolios. Companies provide financial support for sponsored research projects that aren't tied to the same cycles as your federal agencies. This reduces your dependence on government grants and can give your lab a financial safety net. They can also help bridge the valley of death. Industry funding often supports the translational work that federal grants won't touch, potentially taking a proof of concept and moving it towards a prototype.

Leza Besemann 1:38

Beyond just funding, these partnerships unlock real world relevance. Industry collaborations offer crucial insights that academic labs simply can't access in a vacuum. You get to see how your theories perform against real-world constraints, which significantly increases the chance of commercialization. They also offer opportunities for joint proposals for federal funding. Having an industry partner doesn't replace federal funding, but it can strengthen it. Many NSF and NIH programs now look for industry letters of support or active collaborations as a prerequisite.

Jason Stockman 2:13

Agreed. I also want to speak to the interdisciplinary nature of these projects. Industry problems can be complex and rarely fit neatly into one department. This is an opportunity to foster internal networks here at the university. Working on an industry project often forces you to collaborate with colleagues in different colleges. These interdisciplinary approaches help build your own internal network across the university.

Leza Besemann 2:38

Lastly, and let's be honest, your students are looking for more than just a degree. The talent pipeline we offer at the university is of great interest to our potential industry partners. These partnerships can be significant interest to your students as well. They want internships and training opportunities that can make them market ready. When your lab is a pipeline for talent into companies, you become a sought-after PI. Now let's flip script and discuss how researchers at the university can be a valuable partner for industry. To get those benefits, you have to position yourself as a strategic asset. It's not just about what you know, it's about how you apply it.

Jason Stockman 3:21

And it starts with your personal unique value and benefit. Industry partners aren't just looking for smart people, they have those internally. They're looking for big ideas. Your ability to pursue high-risk, high reward research that their internal RD cycles, which are often tied to quarterly profits, simply cannot sustain. They're also looking for a fresh perspective. You offer the outside-in view that breaks through the corporate groupthink. We often say that researchers at UMN can be highly valuable extensions of the company's RD team. Your value is multiplied tenfold if you can translate your academic speak into business impact.

Leza Besemann 4:00

And don't forget, both the university and your lab also bring infrastructure as a service to these companies. The university has many state-of-the-art resources such as instrumentation, assays, fabrication capabilities that companies do not possess. When a company partners with you, they are essentially expanding their own RD footprint without the capital overhead.

Jason Stockman 4:23

You know, now that we've discussed many ways that academic researchers can be valuable assets to industry partners, we'd like to transition to discussing the keys to a successful collaboration. How do we ensure that these relationships we work so hard to attain do not falter? In a nutshell, it comes down to finding a shared purpose. You must find alignment over ambition. You must deeply understand the company's constraints. If they need a solution in six months, proposing a five-year study is a non-starter. Have a solution-oriented mindset. In the lab, we love the why. Industry, on the other hand, loves the how. Be prepared to pivot your work towards real-world applications and commercial use cases.

Leza Besemann 5:08

Jason, this is where we typically introduce the University of Minnesota Innovation Blueprint to help bridge these gaps. This isn't just paperwork, it's a framework for defining a successful collaboration. We first work to define the scope. The blueprint forces both sides, the university and the company, to agree on technical milestones and objectives before the actual scope of work is even started. It also greatly helps with expertise matching. The corporate engagement center uses it to ensure that the PI's interests and available time aligns with the company's sense of urgency. It ensures that the project doesn't hit a dead end because of misaligned expectations.

Jason Stockman 5:50

I mean, at the end of the day, successful partnerships are transparent. And that is what the University of Minnesota Innovation Blueprint can help us achieve. We do not want there to be a wall between the university and the industry partner. So we ask the hard questions on day one. What is the desired outcome for the company? What are the benefits beyond just funding for our researchers? And how do we use this project as a building block to a strategic long-term partnership?

Leza Besemann 6:19

Alright, now that you have learned more about the keys to a successful partnership, let's discuss how to create these great opportunities. If you're a researcher interested in building these partnerships, the next steps are all about connections. There are many ways the corporate engagement center can often help, but much of the onus falls to the researchers. The Corporate Engagement Center frequently shares a list of external funding opportunities with the university research community. Look for opportunities where your research aligns with the company's interests. You can find the list by searching for the Building Successful Industry Partnerships webpage on the Rio website or just contact me, Lisa, directly. When we're working to develop a strong partnership with companies, we often conduct innovation exchanges to directly connect the company's technical team with our researchers. The goal of these engagements is to foster conversations that explore a variety of collaboration opportunities and set the stage for a productive partnership. Providing an industry-targeted bio to the corporate engagement center can help us quickly identify whether your research interests align with a company's needs. We often also facilitate University of Minnesota-only open innovation RFPs or calls for proposals. Companies bring statements and sponsored research funding to the university in hopes of finding a solution. It's an opportunity for a company to tap into the expertise and creativity of our faculty.

Jason Stockman 7:52

Those are great, Leza, and I know there are just a few examples of how we support the broader University of Minnesota research ecosystem. The good news is there are many ways that you, the researcher, can work to establish meaningful partnerships with industry on your own. Here are a few more ideas to help you expand your reach. Create an industry bio. Researchers should build a tailored breakdown of their lab's current capabilities and align them directly with companies that are actively working in your space. You can do this by translating your research into the language of business. Academic papers are written for peers. Industry pitches are written for problem solvers. Proactive researchers should take their findings and create an industry bio. Think of this as a resume for an RD position at a company and not a CV. Consider attending more than just academic symposiums. Go where the RD leaders and business development people go. If you're a mental health researcher, don't just go to a mental health conference. Go to a health tech meeting. Be the only scientist in a room full of entrepreneurs. You can be the subject matter expert that everyone wants to talk to at the coffee bar because you have the technical depth they're currently missing. Don't just pitch a project. Instead, ask about their industry bottlenecks. The best partnerships start with a question, not a proposal. Your aim as a researcher should be to transition these discussions into a formal research partnership, whether through sponsored research or joint grant applications. Again, your goal is to have the company see you as an extension of their very own RD teams.

Leza Besemann 9:35

Building these bridges is what the Corporate Engagement Center at the University of Minnesota strives to do. We're always here to help, providing guidance and coaching. We too are driven to create strategic and collaborative partnerships with our industry partners, and we are encouraging you to do the same. Please reach out to us if you'd like guidance on how to market your research to industry. Our collective goal is to help you leverage your expertise and talent to lead to the next big technology breakthrough.

Jason Stockman 10:04

And that brings us to the end of today's conversation. We hope this episode helped clarify the path forward with your next collaboration. Thanks for listening to Bridging the Gap, where we help build the bridge one partnership at a time.