Abstract
Innovation is the application of a new idea/invention, technology, model, or process to a product or service that satisfies a specific consumer/customer need and can be replicated at an economical cost. Innovation creates value and plays a vital role in growth and social well-being. Mounting economic pressure, environmental challenges, diminishing resources, the exponentially accelerating pace of science and knowledge development, and the proliferation of open innovation call for a renewed assessment of academia–industry relationships. Fundamental research as the sole thrust of academia is no longer sustainable. Instead, innovation must focus on the integration of fundamental and applied research, technological development, new business models and processes, and enhanced social responsibility. Innovation’s novel blueprint mandates paradigm shifts in mindset, strategy, research focus, academia–industry relationships, IP policies, culture, government, and private sector equity involvement. Key elements include academia’s “organic” participation in industrial development teams and technology networks, enhanced support for fundamental and applied research, advanced thesis research and internships conducted in the industry, the creation of joint-value programs and resource-sharing, new business models, and enhanced social responsibility. Academia should also promote the participation of industry representatives in their teaching staff and advisory boards. Special emphasis should be placed on institutionalizing innovation and on the role of small and medium enterprises, promoting their transformation into effective catalysts of change. European Union authorities, academia, and the food industry should collectively develop a mutual vision for reforming the old “push” mindset into a “pull” ecosystem that attracts all stakeholders, enabling academia and industry to build relationships based on trust, promoting performance, improvements in teaching, learning, entrepreneurship, and increased social responsibility. Attracting banks, private sector equity, and venture capital to fund innovation, incubators, and startups is also vital. Time is precious, and it is our utmost responsibility to provide leadership, instill confidence, encourage, and embark upon this journey to galvanize efforts and institutionalize innovation.
Original language | English |
---|---|
Title of host publication | Food Engineering Series |
Publisher | Springer |
Pages | 645-656 |
Number of pages | 12 |
DOIs | |
State | Published - 2013 |
Publication series
Name | Food Engineering Series |
---|---|
ISSN (Print) | 1571-0297 |
Bibliographical note
Publisher Copyright:© 2013, Springer Science+Business Media New York.
Keywords
- Corporate Social Responsibility
- Innovation Process
- Open Innovation
- Social Responsibility
- Technology Transfer Office