Open Innovation Growing, but Universities May Be Missing Out

The London School of Economics website noted that the concept of open innovation is one that is growing in acceptance, with a recent report revealing that nearly 80 percent of companies are regularly engaged with external partners in their innovation work. Despite this apparent willingness and high levels of R&D spending, a recent paper reveals that academics are seemingly missing out on the action, as they spend less time on commercial activities than they did in 2009. The “Changing State of Knowledge Exchange,” which was published recently by the National Center for Universities & Business, revealed a fall in all forms of commercial activities.

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