SUBHASH MISHRA
Dhanbad, Feb 11: The financial models of the BIT Sindri team on sustaining industry-academia linkage got high appreciation from the National Institute of Education Planning and Administration (NIEPA) at the ongoing national workshop in Delhi.
The BIT team, under Prof Ghanshyam, developed policy briefs on financial models and processes for sustaining industry-academia linkages and submitted them to NIEPA on Friday during a national workshop on the topic of ‘Sustaining Industry-Academia Linkages, Processes and Practices’.
Describing his financial models, Prof Ghanshyam said that Academia Linkages higher educational institutions can be divided into three categories – government institutions, private institutions, and public-private partnership (PPP) based institutions.
“Government institutions face challenges like policy constraints, and private and public-private partnership institutions face legal restrictions. One thing is common that all trio types of institutions face similar financial challenges and they can use these models for raising financial resources to complement their Industry-Academia initiatives,” said Prof Ghanshyam.
Government Institutions can get budgetary support from the government for government-related policy research and implementation.
Since private institutions have their own strengths and weaknesses. Raising funds to suit their commercial and promoter’s interest can be done if these institutions are freed up through specific enabling legislation.
“Non-government funded institutions get project funding from international NGOs to innovate and commercialize their research with a profit share model with the university,” said Prof Ghanshyam
He said the PPP Model is an option that synergizes the strengths of both the government and the private players. PPP institutions promoter gets funds for projects from local and international NGOs, creating charity endowments in return for special facilities, facilitating the sourcing of CSR, self-financing and non-degree courses for upskilling and re-skilling of existing employees, and entrepreneurs.
Prof Ghanshyam’s models said paid internships are needed for students’ creation of industrial research, fellowships by tying up with various industry bodies on a PPP basis for specific cases, a joint venture for research procuring industrial sponsorships for the professor of practice, and chair professorships.
