What is Consortium?
A definition of Consortium
“A consortium is a group of companies, organizations, or governments that come together for a specific purpose, to achieve a common goal, or undertake a joint venture, pooling resources and sharing risks. (27 words)”

Business Glossary > What is Consortium?
Examples of Consortium in a Sentence:
The consortium was formed to tackle environmental challenges.
Several universities joined a consortium to enhance research capabilities.
A global consortium is working on developing renewable energy solutions.
Why is Consortium Important in Business?
A consortium allows participants to combine their expertise, resources, and share risk. This collaboration can lead to innovation, cost savings, and improved outcomes, making it a strategic option for large and complex projects.
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Associated Terms
Here are some associated business terms and synonyms for “Consortium”:
- Coalition
- Alliance
- Partnership
Airbus Consortium
The Airbus Consortium is a European aerospace corporation that started as a collaboration among multiple European countries and companies to pool their aerospace expertise and compete in the global market.
Final Notes on Consortium
Consortia can significantly enhance capabilities and market reach through collaborative efforts.
- Assess partner compatibility
- Define clear goals
- Ensure collaborative synergy
These considerations will help establish an effective and successful consortium.
This has been a definition of Consortium meaning.
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