There are many reasons why working with companies can be beneficial to you and your research program. By working with companies, you can:
- Diversify your funding sources.
- Stay connected with real-world problems that industry is facing.
- Build partnerships that can be invaluable when competing for large federal grant opportunities.
- Access Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grand funding.
- Create products and services that benefit society by working with companies to commercialize inventions from your lab.
- Give students who work on company-sponsored projects valuable experience and career opportunities.
- Earn licensing income from companies who want to license inventions from the projects they sponsor.