How should firms evaluate success in university–industry alliances? A performance measurement system

While firms increasingly engage in formal alliances with universities, there is a lack of tools to assess the outcomes of such collaborations. We propose a performance measurement system for university–industry alliances. We derive a success map from existing research on university–industry relations, indicating the causal relationships underpinning successful alliances. The success map distinguishes between different process stages, including inputs, in‐process activities, outputs and impacts. We discuss specific measures for each of these stages, and how they should be deployed. The resulting framework includes both prospective and retrospective measures and subjective and objective measures. It provides research and development managers with a tool for assessing university–industry alliances that is prospective, reliable and multi‐dimensional.