The Executive Secretary of the Public Utilities Regulatory Commission (PURC), Dr. Ishmael Ackah, has urged universities to enhance the practical relevance of their research by aligning it with business objectives.

He stressed the importance of reshaping research findings to be business-oriented by ensuring they are presented in a manner that is intelligible to business leaders.

This approach, Dr Ackah believes, will serve the specific needs of businesses, fostering a more direct and impactful connection between academic research and real-world challenges.

Dr Ackah made the call in a keynote address at the inaugural Night with CEOs and Business Leaders, a gala dinner organised by the UPSA Faculty of Accounting and Finance.

The event, held on Friday, September 29, at the UPSA campus in Accra, centred on the theme "Bridging the gap between academia and industry.”

It was aimed at recognising the pivotal role of academia-industry collaboration in addressing real-world challenges and driving innovation.

“It has gotten to a time to reverse the trend where we let industry lead and academia follow,” Dr. Ackah said.

"Academia, with all the research capacity, access to data, human capital, and professors, should be able to come out with cutting-edge research for industry to follow. This means research should be demand-driven, it should be done properly, and it should also be data-centred.”

In emphasising the vital role of academia in bridging the gap between academia and industry, Dr Ackah acknowledged that it was time research outputs were translated into practical business solutions.

“What it means is that research findings should be business-oriented,” he said. “We need to package our findings [into] policy briefs. We do all the nice equations and publish them in journals and others. They are very good, but how many business CEOs and how many politicians have even the time to read 29 pages of research so they can find solutions?"

Dr Ackah commended UPSA for its contributions to human resource development in the nation while highlighting the need for continued collaboration between academia and industry.

For his part, the Pro Vice Chancellor of UPSA, Professor John K. M. Mawutor, expressed UPSA’s commitment to building the capacities of its faculty and equipping graduates with market-ready skills in order to attract the right collaboration from the business world.

“That is why, in the next few years to come, it is our vision to ensure that no student will graduate from UPSA without adequate ICT skills,” Prof. Mawutor said.

“In fact, [students] won’t leave here without knowing basic coding.”

Dean of the UPSA Faculty of Accounting and Finance, Prof. Isaac Boadi, in underscoring the importance of academia-industry collaboration, said the night with CEOs and business leaders presented a momentous occasion for networking while celebrating collaboration, innovation, and excellence.

“Tonight marks a pivotal moment where we come together not just to exchange ideas but to build lasting partnerships that will shape the future of our students and industries alike,” Prof. Boadi added.