What value could be realised if universities and industry collaborated more effectively?

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This is the question discussed in the eighth volume of the Chartered Accountants Australia and New Zealand (CA ANZ) Academic Leadership Series, edited by Macquarie University academics Professors James Guthrie and Elaine Evans.

With innovation as the key to surviving in a disrupted world, the role of university/industry collaboration in innovation cannot be overlooked. Yet, Australia and New Zealand lag behind other countries when it comes to collaboration between industry and the higher education sector, as identified by the OECD in a recent study, which placed Australia and New Zealand close to the bottom in a ranking of countries in which firms collaborate with universities.

In Australia, higher education invests billions of dollars in research and has a capable workforce supported by skills, knowledge and infrastructure. The future requires an approach based on innovation – one way in which this can be achieved is through an interdisciplinary approach, in which academics not only collaborate with external partners, but with others in their university community.

The next decade will be marked by both immense disruption to the Australian economy and speed of transformation. In adapting, the corporate sector and public sector will have to be active and sustainable players in the knowledge economy, which requires the use of our most valuable asset – the knowledge and capabilities of our current and future workers.

The Academic Leadership Series is the outcome of a Thought Leadership Forum hosted annually by CA ANZ, in which stakeholders from academia, government and business join together to discuss and debate the important issues confronting our nation. The focus of this year’s Forum and subsequent publication is how to promote partnerships between university Business Faculties and the world of commerce and government.

The latest publication discusses how to overcome the barriers that prevent universities and industry working together and explores the opportunities to create meaningful change through knowledge exchange and developing relationships.

The contributions featured in this volume should generate discussion and debate that stimulates fresh ideas and new and enhanced collaboration and further innovation. It can be viewed here.