Importance of Triple Helix in Building Knowledge Economy: A Systematic Literature Review

Abstract

This paper is a systematic literature review that studies the use of Triple Helix model in constructing knowledge based economy through the interactions of academia, industry and government. The Triple Helix assumes that this knowledge transfer can be achieved via collaboration of these three sectors of society. We conducted a comprehensive database search using Google Scholar and Scopus, and screened and conducted the removal of 195 articles from the 290 obtained articles that may relate to our study. This review demonstrates that the Triple Helix model has developed into a theory of reference about the innovation ecosystems and regional economic development. Thus, the review delineates the significant contributions of universities, industries, and governments in the knowledge creation, transfer, and commercialization in response to the key contributions of each sector. In addition, the study recognizes emerging trends within the model including the adoption of new technologies, the participation of non-traditional actors such as startups, and heightened focus on sustainability and social impact when it comes to innovation processes. The review further emphasizes research on regional differences in implementing Triple Helix deployment at the level of smaller regions. These findings confirm that adaptation of the model will continue in order to meet global challenges today and into the future as this is desired for innovation systems to remain inclusive, sustainable, and responsible to societal needs. The contribution of this review to the literature is twofold: (1) it adds to the growing body of research on the Triple Helix framework; and (2) insights from this review can enable policymakers, researchers, and practitioners to search for ways to enhance innovation ecosystems and advance their efforts on building resilient knowledge economies.