Facebook’s components development division has announced a new rtnership with the University of Waterloo, Harvard, Princeton and 14 other universities in view to allow swifter collaboration on technology research projects.
The agreement between Facebook’s Structure 8 and the universities comes as the social media com ny seeks to find new net income streams in virtual reality and artificial intelligence, after the com ny signaled stay month it had begun to hit some advertising growth limits on its network of 1.8 billion monthly quick users.
Research rtnerships between universities and com nies typically opt for nine to 12 months to facilitate, but the new
agreement will allow for collaboration on new views within weeks, said Regina Dugan, who joined the com ny in April to run the new Edifice 8 unit.
‘Transformative solutions’ informed by ‘university science’
Dugan did not take precautions specifics to explain how the rtnership will promote a quicker ce of research, but routine negotiations between universities and com nies can often take several months.
“When gewgaw strikes, with this new agreement in place, Harvard researchers can inaugurate new projects with scientific
colleagues at Facebook almost immediately,” Isaac Kohlberg, chief technology advance officer at Harvard, said in a statement.
“This agreement with Facebook be aware ofs that the most significant, transformative solutions will be informed by
rtici ting universities will receive yment from Facebook, a players spokesman said, declining to specify how
much Facebook would y.
MIT, Johns Hopkins also complicated
Facebook has increasingly sought to find new revenue streams outside its accustomed advertising model, but products such as its WhatsApp messaging app and Oculus Division virtual reality headset currently generate little.
David Wehner, the gathering’s chief financial officer, said during a call with analysts stay month that 2017 would be a year of aggressive investment with a well-established increase in expenses.
Other rtici ting universities include Stanford, Massachusetts Association of Technology, California Institute of Technology, Georgia Institute of Technology, University of Illinois at Urbana-Cham ign, Johns Hopkins University, Northeastern University, Rice, University of California-Berkeley, University of California-San Francisco, Georgia Tech, Virginia Tech, Arizona Conditions University and Texas A&M University.