Benefits of an Academic Program Formed Through a Corporate Partnership

Key takeaways

An academic program is a collection of courses and educational activities designed to help learners achieve specific learning outcomes.

• Businesses and academic institutions can form partnerships to create academic programs that benefit the business, the institution, and the learner.

• Academic programs formed through corporate partnerships can benefit learners by providing real-world experience, tailored courses, networking opportunities, and cost savings.

• You can guide businesses in forming academic programming partnerships by helping them determine learning outcomes. 

Learn more about these collaborations, how they can benefit both businesses and your institution, and the steps you can take to build an effective academic program partnership. To learn more about connecting curriculum to careers and equipping your students with the most in-demand skills, consider Coursera for Campus.

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What is an academic program?

An academic program is a structured collection of courses and educational activities designed to help learners achieve specific learning outcomes. Academic programs typically lead to a degree or certificate. They can also prepare you to transfer to another institution or program. These programs define the learner’s area of study and include majors, minors, concentrations, and specializations at both the undergraduate and graduate levels. 

What is an academic program formed through corporate partnership? 

The partnership between a business and a university that leads to the creation of an academic program is typically called an academic partnership or corporate partnership. The relationship is mutually beneficial, helping participants become more employable and helping corporations hire a stronger workforce. It can also benefit the university where the academic program is located and the community at large. 

When you collaborate with a business to create an academic program, it's typically done to ensure learners receive the education and training the business needs to achieve specific employment goals. 

For example, businesses in specific industries may offer financial assistance to students pursuing an education related to their operations, or a business may help a current employee return to school to participate in an academic program that improves their skills and knowledge. In exchange for tuition, employees may have to work for the company for a specified period. 

According to Harvard Business Publishing, "academia and industry have been moving past transactional relationships—funding and conducting one-off research projects intended to create and commercialize technological innovations—to forge much deeper long-term collaborations [1]." 

You may also find that businesses in certain industries seek partnerships with universities to update existing academic programs or create new ones tailored to certain careers or industry needs. Business leaders may serve on advisory boards and make suggestions, or the collaboration may lead to a custom program that prepares graduates for a particular position. 

Benefits of academic and corporate partnerships

Academic and corporate partnerships offer numerous benefits for almost everyone involved. Businesses often end up with more robust talent pools. Participants in these programs are better prepared for their careers. Institutions that offer these programs benefit by attracting more students and receiving additional resources. All of this combined helps the entire community and drives local economies. 

Benefits for businesses  

Any career-focused academic program can help create a talent pipeline for almost all businesses and industries. You'll discover many other benefits for businesses that partner with university academic programs. They include: 

• Participants improve essential human skills, such as communication and problem-solving, needed in the workplace, and close other skill gaps. 

• Brands may gain a more positive reputation for encouraging and supporting education and development. 

• Businesses can overcome labor shortages. 

• Employees, both current and future, receive more advanced training than they would without the programs. 

• Businesses might experience higher retention rates and save on recruiting costs. 

• Employees, both new and current, may be more knowledgeable about the latest technology than other job candidates.

• Businesses will foster a culture of lifelong learning. 

Benefits for participants and institutions 

As an institution, offering academic programs in partnership with businesses can help you attract prospective students more easily. These partnerships may also simplify the process of helping your learners identify a career path. Learners who participate in corporate partnerships with universities can also find them beneficial. Consider the following benefits your learners may experience when participating: 

• Real-world workforce experience

• Education tailored to their specific career goals 

• Networking opportunities unique to your program

• Cost savings on tuition, fees, and other costs 

• Industry-recognized credentials (depending on the program)

Types of academic programs formed through corporate partnerships

Technically, a business can partner with any educational institution, including elementary schools, high schools, technical schools, community colleges, and universities. If you’re at the elementary level, you may work with a business on activities that encourage your students to explore various fields. At the high school level, you might work with a business to organize job shadowing opportunities. However, many businesses prefer to focus on partnerships with postsecondary institutions to help prepare students who are ready to enter or continue in the workforce. 

Some common types of partnerships you may form with businesses include: 

• Internships: Participants spend a brief period, often a summer or a single semester, working for a company and learning the ins and outs of the business. 

• Co-op programs: Participants work for a company while attending school, often alternating semesters between work and education. As their education advances, they take on more tasks. 

• Microcredential programs: These are certificates and accelerated programs offering participants industry-recognized credentials. 

• Collaborative degree programs: This occurs when an educational institution, often a graduate school, partners with a business to help prepare participants to work with that business upon graduation. 

• Joint research projects: This might involve a corporation sponsoring research at your university that could eventually benefit its products. 

• Technology transfers: In this context, a technology transfer is a project that participants work on at an educational institution before moving it to a business that can help them commercialize and sell it. 

• Mentorship: Participants may receive personal guidance and industry knowledge from someone within a specific organization.

Read more: What Is Microlearning? Definition, Use Cases, and More

Who uses academic programs and corporate partnerships? 

Any educational institution can partner with any corporation to create an academic program that benefits both the institution and its participants. Some real-world examples include: 

• In 2008, General Electric (GE) opened a research center near the MIT campus. Since then, the two have collaborated on numerous research projects, including the development of a more efficient jet engine [2].

• In 2024, Walgreens created the Walgreens Pharmacy Deans Advisory Council to expand its long-standing relationships with colleges of pharmacy and enhance the pharmacy profession. The council's objectives include identifying ways to attract and recruit current and future pharmacists[3]. 

• The University of Georgia currently partners with companies such as Delta, Gulfstream, and Georgia Power to offer engagement opportunities and experiential learning based on these businesses' unique needs [4]. 

How to form an academic programming partnership

You can use the following steps to guide businesses interested in creating an academic programming partnership, whether with your institution or with another that better fits their needs:

Define goals: Help businesses determine what they want from the partnership and be transparent about how the partnership will also benefit your organization or your school. Remind them that it may take some time before they see results.

• Choose representatives: Encourage businesses to pick a trusted person or team to manage the partnership and academic program. This person will be the point of contact between you and the business.  

• Partner appropriately: As you work with a company, ensure your visions align. If your institution doesn’t offer academic programs focused on the specific careers the company is interested in, point them toward another school with a positive reputation and high educational standards. 

• Build relationships. Just as a business should designate an appropriate representative, it is also important that your institution has a faculty member who advocates for your plan. The presence of a faculty advocate can offer numerous benefits, ranging from jump-starting research projects to finding specific learners to participate in your program. 

Offer skills for today’s workforce with Coursera 

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• Subscribe to our free LinkedIn newsletter, The Learning Curve, where you can gain insights and ideas to help you shape your academic programming.

• Use our Global Skills Report to discover critical skills that businesses are looking for.

• Discover how other leaders are driving career outcomes through Success Stories.

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