A model for building a relationship between universities and entrepreneurs

Abstract

Purpose – the article aims to describe the main problems in cooperation between universities and entrepreneurs as well as suggestions to improve this cooperation. Research methodology – the aim of the article has been achieved based on literature analysis, detailed content analysis of existing Latvian technical universities strategy documents and SWOT analysis, and recommendations gained through expert interviews. Findings – one of the factors strengthening the need for cooperation is the significant shortage of engineering and ICT specialists in the coming years; therefore, authors have analysed technical universities strategy documents. The article suggests that improvement in the cooperation can be reached if academic institutions would apply a unified system for better cooperation with industry. Practical implications – the model, which is described by authors as the SADI model, provides an opportunity to strengthen cooperation with industry taking into account such factors as availability of the resources; university’s strategic aims, the intensity of communication with entrepreneurs and others. The model provides support to the management of the university in planning cooperation and developing appropriate structures to support it. It as well it can help university’s management to structure cooperation activities, thus strengthening it and generating additional resources. Originality/Value – authors have not found such a detailed model in advance so that it can be considered a novelty.