| 2 minute read

How to turn transactional university-business relationships into strategic partnerships?

Elena Galán-Muros

In our short video, we break down four simple actions to help you turn your university-business relationships into strategic partnerships.

What are university-business strategic partnerships?

A strategic partnership is a long term, deeper level of collaboration and alignment that bring organisations greater, more sustainable value than one-time transactions like research projects, internships, or licensing arrangements.

Actions for successful strategic partnerships

  1. Define what “strategic partnership” means for your organisations, identify your goals and objectives and align your partnerships efforts with them.
  2. Map existing collaborations within your organisation to identify the characteristics and qualities you seek in the perfect strategic partner and invest time in understanding your potential partners’ goals to find the perfect fit.
  3. Develop a classification system to categorise different collaboration activities and types of partnerships. This will help you focus on quality over quantity and make it easier to identify which partnerships are strategic for your organisation.
  4. Prioritize open and transparent communication to ensure mutual benefits and cultivate an internal culture that values engagement and recognises the importance of partnership development. Providing the right support and relationship management is crucial for long-term success.

Want to learn more?

If you are interested in strategic partnerships and want to learn more from our in-house and guest experts, listen to our Strategic Partnerships Podcast series.

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