This model was developed in 1990s by Henry Etzkowitz and Loet Leydesdorff. It refers to constant interactions among academia, industry and governments. It aims at encouraging innovation for development. Here industry, university and government join hands.

Triple helix covers creative destruction, a concept coined by Joseph Schumpeter in 1942. It means killing older innovations by introducing new innovations. Creativity can produce destructive consequences and cannot be avoided.

Triple helix is best illustrated by the Silicon Valley. Here the government provides the infrastructure and flexible financing and tax incentives (in California). New tech companies flourish in this cluster. The academia provides the manpower and research inputs. All three benefit. It gives rise to consumerism, benefits the economy and makes the world electronic savvy, reducing dependence on paper.