A consortium is a group of individuals or organizations that come together to achieve a common goal. This collaboration allows members to pool resources, share expertise, and reduce risks associated with large projects. Consortiums are often formed in fields like research, education, and business, where collective efforts can lead to greater innovation and efficiency. Members of a consortium typically maintain their independence while working together on specific initiatives. For example, a university might join a consortium with several companies to conduct joint research, benefiting all parties involved. This cooperative approach can enhance the capabilities and reach of each member.