“…This means that while firms are likely to choose topics and problems that are valuable for the development of new products and services for customers, universities are likely to choose research topics that are perceived as interesting and valuable by peers (Nelson, ). In addition, recent research has suggested that firms and universities (or government‐funded institutions in general) are dissimilar in both their orientation and in their routines (Estrada, Faems, Cruz, and Santana, ), and that, relative to firms, universities' knowledge is often more tacit, and therefore more difficult for firms to learn and to make use of (Kodama, Yusuf, and Nabeshima, ). Overall, these differences indicate that the problems that private and public partners may explore in research are very different and the kinds of knowledge outputs each type of partners is interested in diverge (Bruneel, D'este, and Salter, ).…”