T. Fayos1, H. Calderón1, B. Moreno de Castro2

1Universidad de Valencia, Facultad de Economía (SPAIN)
2Stockholm Business School, Stockholm University (SWEDEN)
Through interaction with companies universities could be the driver of evolution in developing countries [1]; moreover in this interaction universities play an essential role fostering innovations systems that leads to the development of emerging economies [2]. Although recently governments in Latin America’s developing countries began to implement policies to foster knowledge transfer between businesses and universities, there is still little coordination between the players [3] and relations are weak [4].

Academic literature about the value co-creation generated in university-business relationships is extensive, however, to date, the focus of academic attention has been the framework of developed countries, while relationships in developing countries remains as an underdeveloped area of research, although scarce existing literature [5, 6] stresses that there are different peculiarities in these markets that we consider it necessary to study.

Hence, the aim of the research proposed is due fold, first, to explore which and how are value co-created through university-business relationships in a developing country, Colombia, and second, to identify if co-created values present differences in regard to developed countries. To achieve the proposed objectives qualitative information-gathering methodology involving the analysis of numerous case studies is used. Senior managers from twelve firms and six universities were interviewed along the data gathering process, while CAQDAS was used to document all the research process.

Results show that values co-created were: generation and application of knowledge and innovation, human resources and economic and financial resources, among others. Moreover the co-created values are different for each of the agents involved. Lastly, co-created values differences appear between developed and developing countries.

[1] S.A. Griffith, “Reforming a national university to meet the development needs of a smaller developing country: lessons from the international community,” International Journal of Higher Education and Sustainability, vol. 1, no. 3, 256-273, 2017.
[2] H.T. Göksidan, E. Erdil, & B. Çakmur, B. “Catching-up and the Role of University-Industry Collaboration in Emerging Economies: Case of Turkey,” Innovation and the Entrepreneurial University (pp. 83-113). Springer, Cham, 2018
[3] E. Bitrán, J. M. Benavente, & C. Maggi, C. “Bases para una estrategia de innovación y competitividad para Colombia,” 2016.
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[6] V. Wickramasinghe. “Higher education in state universities in Sri Lanka–review of higher education since colonial past through international funding for development,” International Journal of Educational Management, in press, 2018.