From labs to riches: How science produces value

From labs to riches: How science produces value

From labs to riches: How science produces value

Nowadays to think about innovation and production without science seems absurd since humanity is facing complex problems that require complex solutions and only a scientific approach can provide us with the answer. That is why many universities and research institutes all over the globe have established certain bodies that allow them to communicate more effectively with commerce and industry and turn their effort into profit. Businesses have also taken the initiative to absorb the output of the scientific community and market the fruits of research.

Despite all that has been done in terms of spin-offs, incubators and tech parks, there are still many hurdles to overcome in order to achieve a knowledge-based economy. The main issue is that the scientific community for the most part has no experience or training in business or how the marketplace operates and this makes it difficult for them to come up with market-oriented ideas.

The best way to overcome said obstacles and strengthen ties between industry and academia is to design a medium in which both sides can exchange ideas and experiences and come to a deeper understanding of each other and collaborate to produce value.

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