Universities, researchers and their perspective on the fulfilment of the third role

The growth in importance of knowledge and knowledge-based activities for economic competitiveness in academic research as well as in political and business circles has led to a shift in the view on the role and function of universities as key players in innovation systems (whether national or regional) (Cooke 2001, 2004). Universities have traditionally performed mainly two functions – research and teaching. In recent years, however, these functions have extended to a new role – in simple terms – that of ‘economic development institutions’.