Open Innovation of Institutional Investors and Higher Education System in Creating Open Approach for SDG-4 Quality Education: A Conceptual Review

Abstract

The introduction of sustainable development goals has made sustainability a top priority for most nations. This has raised the investment into the educational system for potential growth and for creating an innovation culture in any country; the role of institutional investors in the development of financing clean energy infrastructure, entrepreneurial development, poverty reduction, and driving corporate social responsibility and firm development has been found significant. An intensive literature search of Scopus and the web of science database was explored with different relevant sets of keywords “Institutional investors AND Education”, “Institutional investors” AND “Higher education”, which drew 29 final articles between 2010–2021. This scoping review draws a new open approach for creating alternative sustainable funding for the higher education system and investment opportunities for institutional investors with government intervention. This research becomes the first that shows the road map to the higher education system in creating alternative funding through the proposed Institutional Investor & Sustainable University Funding Governance Code, which will make the higher education system independent and ease the burden on the government, as well as create a huge market opportunity for both players. This research model will scope the collaborative approach towards sustainable development goal 4—Quality education.

Infrastructure development in higher institutions: the role of private organisations via unexplored expanded corporate social responsibility (ECSR)

“…A sport-related company's attempt to develop infrastructure in a higher education institution via CSR, may attract more product patronage. In Saudi Arabia, Khan et al (2022) reviewed literature on institutional investors' funding of education institutions. They highlighted the roles of institutional investors in funding educational institutions.…”

“…Infrastructural development plays a critical role in the global ranking. Khan et al (2022) encouraged improvement in social infrastructure investment and acknowledged the role of institutional investors. In the built environment, CSR is essential for the sustainable performance of successful companies (Li et al, 2019).…”

Impact of Cooperative Learning and Project-Based Learning through Emotional Intelligence: A Comparison of Methodologies for Implementing SDGs

“…From the need to promote the paradigm shift of formal education towards a model that promotes the achievement of the SDGs and the goals described in the 2030 Agenda, innovative projects applicable to the classroom are essential to carry out this achievement and to facilitate the process from teachers to students [ 1 , 3 , 62 ]. Thus, in recent years, there has been an increase in the number of projects focused on this purpose, making it more necessary to prove their effectiveness through evidence from educational research [ 63 , 64 ].…”

Platform for hands-on remote labs based on the ESP32 and NOD-red

“…It has been transformed over the last two decades under the effect of economic and financial globalisation and also the arrival of new technological advances, and we are already beginning to wonder about its probable continuity without ICT. Indeed, over the last twenty-five years, many countries have developed mechanisms to guarantee the quality of university education based on new innovative technologies [3] …”

“…In recent years, remote laboratories have been deployed [ 14 , 15 ] as remote learning solutions. For example, the European Go-Lab initiative aims to enhance the classroom experience by using inquiry-based learning [3] through physical and virtual online manipulations [16] in universities. Laborem: developed at the University Institute of Bayonne, a platform installed in localhost via a Raspberry Pi board used as a server containing an open-source software (Moodle LMS) and an electronic board to ensure communication between the server and the equipment used in the practical work.…”