LAHORE: The Progressive Group has called upon the caretaker federal government to promote industry-academia linkage, which is a critical aspect of fostering a better economy. When industry and academia collaborate and work together, it creates a mutually beneficial relationship that enhances innovation, economic growth, and societal development.
Progressive Group’s central leader and executive committee member of the Lahore Chamber of Commerce and Industry (LCCI) Muhammad Ejaz Tanveer in a statement issued here on Tuesday said that such a linkage would help pass out skilled manpower from our educational institutions. Thus, these skilled graduates could contribute to a better economy.
Ejaz further said collaboration between industries and academic institutions allows for joint research projects and R&D initiatives. Industry can benefit from the latest research findings and academic expertise, while academia gains practical insights into real-world problems. This synergy can lead to the development of new technologies, products, and services, which can boost economic growth and competitiveness.
“Industry-academia partnerships facilitate the creation of specialized training programmes that align with industry needs. This ensures that students are equipped with relevant skills and knowledge, making them more employable. A skilled workforce directly contributes to a productive and efficient economy,” he added.
In this way, Progressive Group leader said, academic institutions can foster entrepreneurship by providing resources, mentoring, and incubation support to students and faculty members interested in starting their own ventures. This leads to the creation of new businesses and job opportunities, driving economic growth and innovation.
He said collaboration between industry and academia allows for the transfer of technology and knowledge from academic research to the commercial sector. This accelerates the process of bringing innovative products and services to the market, boosting economic activity. Academic institutions can update their curricula based on inputs from industry partners. This ensures that graduates possess the skills and knowledge required to meet current industry demands, reducing the skills gap and improving employability.
Ejaz suggested that technical education should be declared compulsory for every student while 50 percent of any class should be based on theory and 50 percent hands-on training in the industries. He said that law should be enacted to make it compulsory in private and public institutions.
To promote industry-academia linkage effectively, governments, educational institutions, and industries need to work together. They can establish policies, incentives, and frameworks that encourage collaboration and remove barriers to engagement. By doing so, they can create a more dynamic and innovative economy, leading to sustained growth and prosperity, Ejaz Tanveer concluded.
Copyright Business Recorder, 2023
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