The role of Knowledge Exchange in Innovation

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Knowledge exchange in innovation

Knowledge exchange is the two-way flow of people and ideas between the research environment and wider economy. This contributes to Innovation and economic development. Also, KE helps to accelerate economic growth by stimulating and supporting business-led innovation. Industries and organizations around the world are exploring the ways to bring in innovative and creative approaches to increasing business productivity and growth. This is achieved by encouraging collaboration between university and businesses. University has the responsibility not only to maximize graduate employability but also to help continuous improvement in staff skills through the development of new partnerships and external engagement.

Knowledge Exchange partnerships are designed to benefit all partners in a three-way collaboration

A graduate or post graduate (known as an Associate)
A business or an organization
A university/research institution (Knowledge Base)

.A qualified graduate also known as the Associate will lead change, deliver innovation and apply academic knowledge to a real-world challenge.

A university or research organization will create business-relevant teaching, research and publishing opportunities. Universities act as economic attractors – encouraging new investment into the local economy, Universities act as local economic anchors – stabilizing the local economic making it more resilient to shocks, Universities act as transformers allowing local businesses to develop, upgrade and move into new markets.

A business or organization use this knowledge to drive innovation, increase productivity and improve business performance.

The role of Knowledge Exchange in Innovation

Knowledge exchange in innovation

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