Public-Private Partnership (PPP) is a long term collaboration between a government and private sector institutions towards delivering a project or service traditionally provided by the government. How can PPP benefit scientific development and innovations?
There are some benefits. However, the publications are scarce. Lets keep talking
James Ngumo Kariuki Thanks for your apt response. My best regards!!!
Lets collaborate. I am working on a small proposal for my doctorate on PPP and time series towards attain performance targets.
Several benefits. Increased innovation that results from private competition around goals and objectives that have public interests. Partnerships that promote or facilitate problem solving that is more specific to the needs of private, public, and non-government organizations.
The benefits of PPP are numerous. Among them is where government comes in to fill up gaps left by the private sector in scientific development and innovations.
For example, the private sector may not have an interest in engaging in the Druggery of Basic Scientific work with no direct quick results to the society. The public sector comes in here for the greater good of the society in terms of funding Basic Scientific work and will as well partner with the private sector in terms of funding Applied Scientific work which has direct results to the society.
For instance, public funding may come in handy at Universities and Public Research Institutions in Basic Scientific Research in Particle Physics. And to apply the results from Basic Research in Particle Physics, the public sector will collaborate with the private sector (Companies) in Applied Research in Particle Physics in terms of say Nano Technology to create semi-conductors for extremely high speed Computers; anti-microbial household washing detergents; degreasing and stain removing detergents; air purifiers, filters, etc.
Frederick White Thanks for your insightful perspective on this matter. Well appreciated!!!
Dr. Barnabas Kiiza Your thoughtful comments are highly appreciated. My best regards!!!
PPPs can benefit scientific development and innovation in several ways. The financial package can already be an innovation compared to existing sources of financing, the design of the project proposed by the private partner, the inclusion of sustainable technologies in the project
It accelerates pace of research & helps to expand the frontiers R&D.
It also creates a platform for shared responsibilities and mutual benefits.
Lanre Daniyan Thanks for your insightful contribution. Well appreciated. Cheers!!!
It offers a legal structure for gathering critical mass and pooling resources, allowing for a scale of effort that individual businesses would not be able to reach despite substantial support for firm innovation. For shared investments, the partners share the risk, profit, and obligation.
PPPs are about "win-win" situations. Researchers need resources to answer an issue or develop a solution. On the other hand, the private sector has questions/issues that would require research-generated evidence. In addition, they have the resources but are limited in human capacity to find the solution. Hence, PPPs for R&D.
James Ngumo Kariuki Thanks for your insightful contribution. Well appreciated!!!
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