Role of Industry-Institute Interaction to Promote Education and Entrepreneurship

Abstract

The goal of any technical institution is to produce skilled, globally competent professionals through quality technical education and to prepare them for immediate employment. Industries engross these knowledgeable professionals and enhance its production capabilities by contributing the latest technologies. To produce proficient graduates ready for the industry, it is necessary to know the requirements of the industries through industry-institute interaction. Hence, a good and vibrant industry institute interaction to promote education and entrepreneurship is definitely required. To build good rapport between the industry and the institute, institutes should have Memorandum of Understanding (MoU) with the industries.

Industry-institute interaction (I-I-I) is the most preferred activity for mutual benefit and growth of industries as well as institutions. I-I-I provides the best platform for showcasing the best practices, latest technological advancements, and their implementation and impact on the industry. Also, I-I-I promotes industry experts to participate in curriculum design which plays a significant role in preparing the students ready for the industry. Through I-I-I, industries can participate in technical education programs and cross-fertilize ideas for systems improvement. Teaching-learning processes can be improved by integrating industrial training to the students which also provides an exposure of the corporate world. Students should be encouraged to undertake the final year projects in the industry with a joint supervisor from the industry. I-I-I promotes development of entrepreneurs which further leads to rapid industrialization and hence improved well-being of a country. I-I-I can also increase the research and development activities in both industries as well as institutions which further leads the nation to grow technologically and socioeconomically.