Abstract: Academia-industry relationship is not like that of
technology donator-acceptor, but is of interactive and collaborative
nature, acknowledging and ensuring mutual respect for each other-s
role and contributions with an eye to attaining the true purpose of
such relationships, namely, bringing about research-outcome
synergy. Indeed, academia-industry interactions are a system that
requires active and collaborative participations of all the
stakeholders.
This paper examines various issues associated with academic
institutions and industry collaboration with special attention to the
nature of resources and potentialities of stakeholders in the context of
knowledge management. This paper also explores the barriers of
academia-industry interaction. It identifies potential areas where
industry-s participation with academia would be most effective for
synergism. Lastly, this paper proposes an integrated model of several
new collaborative approaches that are possible, mainly in the Indian
scenario to strengthen academia-industry interface.