Fostering Sustainable University-Industry Techno-Entrepreneurial Collaborations and Innovations in Asian Universities

Collaboration between universities and industry (UIC) is one of the key factors bringing innovation, economic growth, and knowledge transfer at the global level. As part of the fostering sustainable university-industry techno-entrepreneurial collaborations and innovations in Asian universities (FOUNTAIN) project, this systematic literature review provides critical views on the current state of university-industry collaboration (UIC) status in Sri Lanka and points out some key areas that need to be worked on in order to develop mutually beneficial long-term collaborations. The review focuses on the global views of UIC, the factors that influence the cooperation, and the specific problems, especially in the Asian region. Using a comprehensive process consisting of keyword search and qualitative content analysis, as many as 45 relevant articles were eventually found and scrutinized. The results, thus, stress UIC’s role in economic stimulation and society, as well as in the academic-industrial linkage. However, obstacles like limited financial resources, regulatory bottlenecks, and dissimilar communication styles still remain as major challenges in achieving effective collaboration. However, despite all the endeavors of the government and university-industry partnerships, there are still some problems with collaboration and entrepreneurial capabilities, as well as infrastructure capabilities, in Sri Lanka. It is paramount to elucidate these drawbacks to maximize the contribution of UIC in encouraging entrepreneurship, innovation, and economic growth. The process continues by providing ways in which UIC can be improved, stressing on customized interventions, collaboration among stakeholders, and more research for sustainability.