In today’s global world, generating new knowledge and turning it into new products and services is a complex process that involves a broad range of actors. Transforming the results of scientific research into new commercial products is a shared challenge between researchers and industry to maximize the social and economic benefits of new ideas. Such partnerships contribute positively to address innovation market failures and help to realize the full social returns of research and development(R & D) investments. In recent times, the rise in global knowledge and technology has intensified the need for universities and industry to forge strategic partnership that goes beyond the traditional funding of research projects. World-class research universities are at the forefront of championing such partnerships to hone the competitiveness and competence of their institutions and the partnering companies to help address social challenges and drive economic growth. This study explores the priorities and scope of university–industry collaboration indeveloped and developing economies, motivation to form such collaborations and barriers to such cooperation. Finally, the study examines the effectiveness of these innovative policies to promote university-industry collaboration in developing countries.
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