Risk response strategies for collaborative university-industry R&D funded programs

Abstract

Universities are centers of knowledge in our societies and their role when it comes to innovation has become more important over the years. Companies have several reasons to engage in research collaborations with universities, namely to gain access to innovative technologies. University-Industry R&D collaborations are expected to play an important role in regional economies, and to fulfill the industry’s demand for innovative products, technologies and processes. However, the knowledge on what are the potential risks resulting from these collaborations and the risk response strategies to reduce the negative risk impacts and to enhance positive risk impacts is still limited. Thus, this paper aims to fill the gap in literature when it comes to risk identification and risk responses’ planning, by identifying, based on a case study analysis, 19 potential risks and 53 potential risk response strategies.