Role of Universities in Research and Innovation Essay

Role of Universities in Research and Innovation - Essay Example Information on research and innovation is necessary for policymakers so that they may be able to see how they can help the universities to promote their innovation and research in the market. Government support is not enough in most institutions. In most cases, universities collaborate with industries in conducting research. Universities have people, units, and function, which are involved in partnership actions that have an effect on technological and economic development. They do this by licensing and spin-offs. Universities differ in the way they organize their programs or activities so as to foster innovation. Research institutions, majorly in the United States, are more concerned about their societies in the recent past. This is because they represent the inner resources of knowledge in those societies (Amidon, Formica & Mercier-Laurent 2005, p.56). Competency of individuals, knowledge and skills and their application has improved significantly in the economy where these individ uals work. Most countries focus on the development, application, preservation, and discovery of all forms of knowledge and skills. These are the humanistic, scientific, and social knowledge. They therefore assist publicly and privately funded universities. The institutions then appreciate these contributions by appropriately contributing to the development in economy. They enhance knowledge linking activities, which improve technology commercialization, enhance workers’ competency, and assist community and organizational change and increase competency of professionals. He also provide social, economic, and cultural organizational analyses to train and educate individuals and to bring individuals and... This paper stresses that universities are directly involved in state and regional innovation processes in many ways. Development strategy emphasize on improving research institution in low and middle-income perspective and placing them at the inner part of development policies. Commercialization and technology transfer initiatives provides the means in which basic research and its market place meet one another. This is where ideas are converted into products, which then drive the new market and business formation. There are several challenges facing universities that need to be tackled for the institution to remain competitive in knowledge economy. One is to reduce student faculty ratio, this needs a plan on operating funds for new enrollment expansion. This needs expansion of faculties and hiring new staff. Many universities invest financially and politically in the development mechanisms of their firms. This report makes a conclusion that the values, economy, capabilities of a community , competence and orientation of workers must all be transforming and developing continuously across a large range of knowledge, changing technology and global conditions. Research in innovation and technology mobility is on a rising field, and its attractive conditions for learning research attract future academic interests. Efforts to improve long lasting capacity building are under acceleration in almost all growing universities. In conclusion, research and innovation are key aspects of knowledge development.