At the onset, working on an industry funded project is a phenomenal idea. It appears to have multiple benefits. Firstly, it is an opportunitt to take up a kind of research that has a lot of practical use. Secondly, industry is relatively more generous in providing funding as compared to the academic fraternity. The research oriemted industries are generous enoughto fund not just the research inititatives but also the overheads borne by the researcher for boarding, travelling and so on. All these and many more benefits are luring enough to get associated with an industry oriented project but there are certain considerations that need not be ignored.
1. Publication Hindrance: An industry is a profit making initiative and would almost always fund onlly those activities from whichit can extract some commercial benefits. To add to it , you may be made aware of some confidential information of the company which you would be expected not to disclose and for that sometimes an agreement between you and the company would also be signed. Because of this sometimes you may not be able to publish the conplete output of your research and you lose onto some very important contribution in your research.
2. No Long Breaks on Personal Concerns: Howmuch strict be your supervisor, he would give you breaks and empathize with your personal concerns and commitments. You could still get a break once in a while but when the industry funds your assignments, there isnt any relaxation on regular committed updates that you have to give to the company. Supervisors some time pressurize or even to say harass their scholars f or updates as they get the pressure from the industry people.
3. The Trend of Job Switching: you may begin to work on a project with some people in the company and build up a rapport with them and get them required supportand encouragement that puts you in a comfort level in the midst of strangers. But the industry is such a place where people do not remain in the same job for a long time, reasons of choice or no, they do move on. It isnt necessary that the replacement would again be at the same wavelength with you. It can sometimes become a potential hindrance in the smooth progress of your work.
In a crisp advice I would like to say that, it is always better to get as much advice as you can about if any agreement is there between the university or the company that can bound you so that there are not any clauses that are hidden from you that may surprise you at a stage where you do not know what to do next. Sometimes companies do offer room for negotiation, do check out scope if any or that.
It actually becomes a constraint. I have seen my friend working on a industry headed project. He faced issues with time and could not take a leap in between even if it was required. And the third point you mentioned is also true. I think my friend could relate to this post. I may choose other way round probably. Thanks for this post.