Industry and academic are very interrelated between both two. As in engineering world, they need to be some collaboration continuously in order to invent new technology which at the end will be used widely and benefited by both two sectors.
This is very crucial because of the continuity of the technology which actually is contributed from either area where any small scale or lab result that is done by academic which from university later will be used by industry to maximize the profit of the company as an ultimate objective. This is again is not something that any industry can straight away take any formulation or research done by university but there will be some agreement such as industry or more specifically an identified company that willing to pump in some fund to make move the research or development to be done without any monetary burden. This is because of the insufficient fund for academic or university stopping them from moving on with any new innovation to be invented.
In addition, there is necessity also from industry people as alumni to support their school they graduated from at least from knowledge or experience to enhance the syllabus of the school/university so that can ease the accreditation process for the related department of engineering. This is the reason why almost all the faculty that contributing growth of industrialist will have at least one industry advisor. Besides, there would be cases where academic will invite industry people to evaluate for the final year project of the students. This is really important because of the feedback that will be highlighted by them usually more than practical rather than totally theory.
Last but not least, there are some limitations to make them collaborating these areas because of some agreement issues or understanding arguments. This is the reason both industry and academic need to clarify all the commercial issues to avoid any misunderstandings. So, in order to avoid any confusion both parties should really clear of the contract of agreement.
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