AURAK center for Entrepreneurship (ACE) has developed a Knowledge and Innovation Transfer Entity (KITE) to build the bridge between academia and the industry. The primary purpose of creating this relationship is to support graduate and undergraduate students. One of the significant achievements has been the formation of the KITE advisory council, with members from prominent organizations, namely the RAK Department of Economic Development and RAK Chamber of Commerce.
The industry and academia do not regularly speak to each other to leverage their core competencies. As a result, research outputs remain within the academic circles, and industry practices do not inform business curriculum. Lack of knowledge and information transfer and reduced capacity of firms to devote resources impede innovation in corporate firms.
Corporate firms can benefit from the knowledge and expertise of the Business School at AURAK and have access to tailor-made training programs.
Corporate firms can save on costs and use the expertise of AURAK students in their research and innovation projects.
The Business School and AURAK can contribute to the development of the industry and community.
ACE can leverage the knowledge and expertise of the Business School to provide consultancy to corporate firms.
Students in the Business School can explore opportunities for internship and employment in KITE Associate firms.
Business School can enrich its programs through regular feedback from the industry.
Corporate firms along with ACE and ICONET collaborate on research and joint innovations.