University-industry cooperative research yields dividends

A company has three primary resources to draw upon in order to accomplish required applied research: in–house projects, supplier efforts, and university capabilities. This paper focuses on the third resource, university research. It summarizes the experience of Chrysler Corporation with the Chrysler Challenge Fund, a centralized approach to university research used within Vehicle Engineering. The paper discusses the Challenge Fund's purpose, its development and implementation, and the benefits offered. It identifies some of the key features that distinguish it from other university research programs, and describes some of the lessons learned since its origin in 1985.