Abstract
The threats posed by COVID-19 reminded us not only of the frailty of human life, but also of the fact that in the face of such a global crisis all social institutions experience difficulties and not a single one is spared. One of the main lessons learnt from it is the need for cooperation. In light of this, such initiatives as the Triple Helix or the integration of academia, business, and the government come to the forefront and demand closer attention as a powerful instrument fostering innovation and sustainability. The main aim of this research is to explore connections between universities, industry, and the government. Moreover, the purpose of this chapter is to analyze the existing challenges and opportunities related to regional economic integration of higher education institutions in the post-COVID-19 world.
TopBackground
The global financial and economic crisis has triggered conceptual changes not only in the global financial and economic system, but also in culture, politics and, most notably, in education. The standards for the quality of educational programs are becoming more rigorous, and so are those for the graduates themselves. It is noteworthy that the changes in this sphere have a prolonged, deferred effect, which may be difficult to assess in the process of training and can be clearly seen only after the employment of graduates.
Moreover, the changes in the market structure and higher prices for quality education affect the demand for educational programs. One more factor to consider is growing demand for distance education programs, which differ significantly in content and form from the conventional face-to-face programs offered by universities. Besides, the state standards for higher professional education are changing, which is directly connected with the current needs of the labor market and a new outlook on what competencies will be in demand tomorrow in terms of the curricular content and professional formation of graduates.
Key Terms in this Chapter
Sustainability: Refers to a mode of being, operating a business, or generally any activity that is conducted in a way to use present planet resources without undermining the viability of the next generation or the future of the planet.
Industrial Chair: A department within a university created in collaboration with a particular business or a corporation and serving the needs of both parties through bringing practical training to universities and research capacity to businesses.
International Student-Led Projects: Projects designed, initiated, coordinated, and assessed by the university faculty in collaboration with business practitioners and carried out by student teams from international partner universities.
Environmental, Social, and Corporate Governance (ESG): The evaluation of human, material, and financial resources a business contributes for the wellbeing of the society and the planet.
Triple Helix Model: A mutually beneficial interaction between the government, the corporate world and the academia that creates favourable conditions for economic growth, social development and technological breakthroughs described as knowledge society or knowledge economy.
Financial Analysis: The assessment of a business performance from the perspective of its financial stability and wellbeing.
Regional Integration: The process of a collaborative effort of various bodies within one region or between two or more regions resulting in their greater success and viability.
Business Practitioner: A person with expertise and experience in corporate and entrepreneurial world and without professional pedagogical background who teaches courses at the university or supervises project work.