The university innovation model in a unique environment

National governments have recognised the important role played by higher education institutions in the diversification of their economy through innovation. Universities and colleges are playing a crucial role not only in their traditional mean of serving the country (teaching, research and community services) but also through innovation. Universities are playing a critical role in the development of hi-Tech products and services; generation of new knowledge and the spin-off of a new business venture. Universities innovation model should incorporate the national innovation framework, society, regulation, culture and business for a successful transformation of knowledge into a useful products and services that will give a nation an edge over competition.