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OECD research (2001) shows that innovation is a key driver to achieve economic welfare.
We call it Tri Dharma Perguruan Tinggi or three dedicated function of higher education.
The major goal of universities is to educate people. The second function is research activities which enrich the teaching activities.
Furthermore, science and technology are the major part in innovation.
Most of developing countries equip with limited budget to support their research and development so they are lack of knowledge in science and technology.
There are some product which are used by people come from university.
We are now live in biotechnology era where many scientists from universities try to develop vaccines, devices or super quality plant to make our life more comfortable and easier. It is not common to work individually to achieve high standard of medicine, for example.
In this period researcher must prepare with sufficient budget to get the product tested and confirmed that this particular product has under no circumstances been patented.
The research shows that universities play the important role in inventing and developed technology which commercialized by industries.
However, learning and researching require a lot of money.