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Building Partnerships With Industry: Collaborative Models for Financial Survival
Abstract
In an era of diminishing public funding and rising operational costs, universities are under growing pressure to diversify their revenue streams. One increasingly prominent pathway is building partnerships with industry—an approach often framed as a solution to the financial precarity faced by many institutions. But while these collaborations can offer tangible benefits such as funding, infrastructure support, and innovation opportunities, they also raise critical questions about academic freedom, institutional identity, and the long-term consequences of market-driven logic. Ultimately, the chapter argues that if approached thoughtfully, partnerships with industry can contribute to financial survival without compromising the core mission of higher education. However, this requires a shift in mindset from transactional arrangements to collaborative relationships built on shared purpose and long-term vision.
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