This chapter explores the concept of establishing an academic program within a company to foster collaboration with universities and other external stakeholders. Academic programs serve as an embodiment of open innovation, enabling firms to leverage external resources, cultivate talent pipelines, and create an innovation ecosystem to advance their R&D goals. The chapter outlines practical approaches to launching such programs, from sponsoring postgraduate research projects to hosting R&D competitions. It also highlights how these initiatives can facilitate rapid idea exploration, strengthen relationships with academic institutions, and position firms to access additional public funding for specialized projects. Finally, it argues that by building a robust academic network, firms can enhance their innovation capabilities, increase competitiveness in securing grants, and establish a mutually beneficial feedback loop that fuels both talent generation and technological advancements.