JIP (Joint Industry Projects)

Joint Industry Projects (JIPs) are collaborative efforts where multiple companies, often within the same industry, pool resources and expertise to work on common research or development goals. By sharing costs and knowledge, participants can innovate more effectively than working alone. JIPs typically focus on developing new technologies, standards, or solutions that benefit all involved, accelerating progress and reducing individual risk. They are common in sectors like oil and gas, energy, and engineering, fostering industry-wide advancements through collective effort.