Strategic Collaboration Guidelines between Private Universities and Industry Partners (Chambers of Commerce and Industry Councils) for Establishing Effective Scholarship Funds to Enhance Student Potential in Thai Higher Education

Abstract

Background and Aim: University–industry collaboration is increasingly important for human capital development and the alignment of higher education with labor market needs. However, structured mechanisms for establishing and managing scholarship funds through collaboration between private higher education institutions and national industry representative organizations in Thailand remain insufficiently developed. This study aimed to examine the factors influencing student potential enhancement and to develop evidence-based guidelines for establishing and managing strategic scholarship funds through university–industry collaboration.

            Materials and Methods: This study employed a Sequential Explanatory Mixed Methods design (QUAN → qual). In the quantitative phase, data were collected from 342 respondents and analyzed using descriptive statistics, correlation analysis, and Structural Equation Modeling (SEM) to examine the relationships among collaboration-related factors and student potential enhancement. Based on the quantitative findings, a subsequent qualitative phase was conducted through 20 in-depth interviews with relevant stakeholders. The qualitative data were analyzed using thematic analysis to explain and extend the significant quantitative findings. The two phases were integrated during interpretation to develop a more comprehensive understanding of the mechanisms underlying strategic scholarship fund collaboration.

            Results: The quantitative findings showed that collaboration structure, resource mobilization mechanisms, governance and transparency systems, and monitoring and evaluation frameworks had significant positive effects on student potential enhancement, with the model explaining 63% of the variance (R² = 0.63). Among these factors, collaboration structure demonstrated the strongest effect. The subsequent qualitative findings helped explain this result by indicating that effective scholarship programs require clearly defined roles and responsibilities among participating organizations, coordinated resource mobilization, transparent governance processes, and continuous monitoring. In addition, matching fund mechanisms were identified as an important mechanism for strengthening shared commitment and resource sustainability, while employment-oriented key performance indicators (KPIs) helped align scholarship objectives with labor market needs. These qualitative findings complemented and expanded the quantitative results by clarifying how collaborative governance and resource mechanisms can contribute to the sustainability and strategic alignment of scholarship programs.

            Conclusion: The integrated findings indicate that sustainable strategic scholarship funds require more than financial support alone; they depend on structured collaboration, coordinated resource mobilization, transparent governance, and labor market-oriented monitoring and evaluation. The findings provide an evidence-based framework for private higher education institutions and industry representative organizations to strengthen the management of collaborative scholarship funds and enhance their contribution to student potential development and sustainable human capital development in Thailand.