As a principal investigator, what are the ways I can engage with industry for research?
There are two main methods to engaging industry for research. Industry sponsored research agreements and consortia. Depending on the needs of the company, the OIRP can aid in determining the right agreement to suite your needs.
What is the first step in seeking to establish an industry sponsored research project?
The first step in establishing an industry sponsored research agreement would be to find companies that have business problems that overlap in your area of expertise.
How do I find companies in my research area?
There are many opportunities for finding interested companies. Giving presentations at conferences can provide a concentrated group of companies that may overlap in your research area. You can also contact the OIRP to find companies relevant to your expertise.
How do I engage with a company that has expressed interest in funding me for a research project?
Engaging with a company is not an exact science, but there are best practices that will increase your chances of coming to an agreement. The first step would be to probe and understand the company’s interest. Find out what their goals are and how you would be able to help the company reach them. Explain your priorities as a researcher/professor. Continue the conversation and be responsive to their needs.
What are the benefits to an industry sponsored research project?
There are many benefits to an industry sponsored research agreement. These agreements enable students to work on industry-related problems, they provide additional funding for research and create relationships that can aide in post-graduation student placement.
How should I expect to interact with industry during a sponsored research project?
Interactions with industry depend on the company and their expectations. Probe to find out how often the company would like to meet, and keep them updated with any developments.
What are the benefits to establishing a consortium?
The benefits to establishing a consortium are similar to those for a sponsored research agreement. Students have the opportunity to engage and interact with a group of companies. Consortia provide research relationships with multiple companies and can aide in post-graduation placement.
What is the first step to establishing your own consortium?
The first step to establishing a consortium is to produce a value proposition geared towards helping a certain industry. Looking at the needs of industries and how your work may help them move forward will help attract companies.
What are the requirements for establishing consortia?
Once you have sold the idea to partners, it is only a matter of working together to finalize bylaws and membership benefits.
How often will I be required to interact with the sponsors?
Interaction with consortium members will be developed and stated in the bylaws.