An introduction to knowledge exchange

In 2023, knowledge exchange is high on the government’s agenda for universities. For government, university contribution was seen to be initially drawn from purely ‘technology transfer’ - with emphasis on economic growth through scientific discovery, spinouts and venture creation. Gradually this focus has widened, through ‘knowledge transfer’ to ‘knowledge exchange’, which recognises both the diversity of university knowledge, and its utility in other areas than the purely economic. Many universities are refocusing their existing activities to incorporate knowledge exchange opportunities, underpinned by their existing academic research. Much of this activity is driven by new three- and five-year dedicated knowledge exchange strategies that are aimed to provide direction and structure as well as broadening their market offer to students, stakeholders, and their communities. This work has directly boosted business confidence and allowed senior university decision makers to revisit the importance of university and business partnerships and their current approaches to innovation. Operationally there seems to be a shift in culture and perception of knowledge exchange responsibility away from professional services (e.g. intellectual property and commercialisation managers and business development managers) to academic staff. There is a greater appreciation for creating and mobilising university and business partnerships, work that reduces universities’ reliance on fee income and reduces financial risk. This chapter aims to provide a deeper understanding of what is meant by knowledge exchange, enablers and barriers associated with successful implementation of successful implementation of knowledge exchange strategy and the role played by different actors and stakeholders.