Impact of STI Policy on Innovation Creation by HEIs In Pakistan: Exploring from the Triple Helix Model (THM) Perspective

An innovation-based economy is crucial for a country's global competitiveness and sustainable growth. However, the impact of Pakistan's Science, Technology, and Innovation (STI) policy on innovation and technology creation within Higher Education Institutions (HEIs) remains underexplored. This study examines the impact of Pakistan’s STI policy on innovation in HEIs by analyzing views of academia, industry, and government using the Triple Helix Model (THM). Forty in-depth, face-to-face interviews were conducted with Directors and CEOs of prominent export-oriented industries, Entrepreneurs, Offices of Research Innovation and Commercialization (ORIC) Directors, and Senior Government Officials in Sialkot, Faisalabad, Lahore, Rawalpindi, and Islamabad. Participants provided their perspectives on the factors influencing innovation and technology creation. The government participants assert that it provides financial resources to researchers and innovators to support their research efforts, encourage innovation, and facilitate the development of new products. Meanwhile, HEI stakeholders assert their role in fostering innovation and diffusion through applied research. However, industries believe that academic research is often not effectively transferred to industry and lacks commercial value. Conclusion: The analysis highlighted areas where Pakistan’s STI policy has been ineffective. The findings of this study will aid the Ministry of Science and Technology (MoST) in reviewing and formulating a more effective STI policy strategy to achieve its innovation objectives and boost Pakistan’s economy.