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Importance of Perpetual Government-University-Industry (GUI) Collaboration Today
Abstract
The globalization of the 21st century has changed economic and other realities far beyond the expectations of most individuals. The competitive landscape continues to be reinvented due to such factors as accelerating globalization, changing demographics, rapid technological advances, shorter business/product life cycles, innovation, and productivity. This chapter focuses on why there is a need for perpetual Government-University-Industry (GUI) collaboration, especially in advanced economies, and some options on how to achieve it effectively. The chapter commences with an introduction to the realities of contemporary globalism that have raised the need for this collaboration, and the body then outlines the status of GUI collaboration in the world’s four largest economies: China, India, Japan, and the USA. There is a model example of ideal GUI collaboration in the discussion section for reference. The conclusion synthesizes the earlier discussions and provides suggestions for consideration regarding optimum GUI collaboration, most notably a list of seven “Best Practices” provided by Massachusetts Institute of Technology in the USA.
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