Chinese colleges and universities have always undertaken the basic research work necessary for the region and country. Research has played an important role in the innovative systems of dealing with relevant issues. The promotion of scientific research in colleges and universities is inextricably linked to regional economic development. Colleges and universities have been educating a diverse range of unique talent as well as offering scientific and technological support to the regional economy. In recent years, China has increased its expenditure at scientific research in colleges and universities, and its scientific research results have risen rapidly. However, the role of scientific research in promoting regional innovation and improving economic quality has been questioned. Therefore, by studying the current situation of scientific research activities and economic development of colleges and universities in Zhejiang, the research clarified the relationship between scientific research investment, scientific research achievements, and regional economic quality. This chapter is a critical evaluation of the research capacity of universities and colleges in Zhejiang and determines the relationship between university research and regional economy through principal component analysis, correlation analysis and regression analysis. To enhance regional economic development, this chapter examines the reasons and problems and provides relevant recommendations for scientific research activities at colleges and universities.