Research organizations build closer links with industry in order to:
Industry engages research institutions for a number of reasons:
Commercialize research and improve their market-oriented acting and thinking
Allow academics to gain relevant industry experience in order to make their research more relevant to society
Generate additional income for further research and education through commercial returns
The successful innovation of new products and services into the marketplace
Maintain competitiveness which requires considerable efforts of companies and universities
Business requires innovation, companies do not always have the ability to undertake the required research within the area.