The pursuit of academic excellence and business engagement: Is it irreconcilable?

Universities currently need to satisfy the demands of different audiences. In light of the increasing policy emphasis on "third mission" activities, universities are attempting to incorporate these into their traditional missions of teaching and research. University strategies to accomplishing its traditional missions are well-honed and routinized, but the incorporation of the third mission is posing important strategic and managerial challenges for universities. This study explores the relationship between university-business collaborations and academic excellence in order to examine the extent to which academic institutions can balance these objectives. Based on data from the UK Research Assessment Exercise 2001 at the level of the university department, we find no systematic positive or negative relationship between scientific excellence and engagement with industry. Across the disciplinary fields reported in the 2001 Research Assessment Exercise (i. e. engineering, hard sciences, biomedicine, social sciences and the humanities) the relationship between academic excellence and engagement with business is largely contingent on the institutional context of the university department. This paper adds to the growing body of literature on university engagement with business by examining this activity for the social sciences and the humanities. Our findings have important implications for the strategic management of university departments and for higher education policy related to measuring the performance of higher education research institutions. © 2013 Akadémiai Kiadó, Budapest, Hungary.

How should governments support the emergence of new industries in leading economies?

Over the past 30 years, developed economies' approaches to supporting growth have focused on competitiveness, entrepreneurship and innovation to varying degrees. However, following the credit crisis and global recession in 2008 there has been demand for an updated narrative of growth based on the emergence of new industries. This paper provides a brief review of the available literature on how governments in leading economies can support new industries to emerge to the benefit of their national economy, discusses a number of issues for governments trying to support emerging industries, provides a framework of activities which governments considering this type of intervention should consider, and discusses the case of the regenerative medicine industry in the UK using the framework. Copyright © 2013 Inderscience Enterprises Ltd.