Cooperative efforts between the university and industry are encouraged because they produce mutual benefits as well as benefits to society. Industry support contributes to the education of scientists, engineers and others, and to the development of technologies that can be put to practical use by society. Facilitating the transfer of technology to improve the health and productivity of society is an important goal of the cooperative university-industry relationship. The character of the university-industry research relations is shaped by a variety of interactions, including:
- direct funding of research costs through contracts; Research Agreement (PDF)
- licensing of university technology;
- gifts and endowments (including endowed chairs) designated for colleges, schools, departments, or individuals;
- university-industry exchange programs and student internships; and
- industry representation in affiliate programs in support of specific research programs.