Triple helix model is a dynamic interaction approach to facilitate the government, industries, and academia for continuously generating innovative products to encounter global knowledge-based economic trend. This article firstly reviews and analyses the purposes, operations, and effects of the three sectors collaboration at Empire State Development Division of Science, Technology and Innovation and the Medicon Valley. Three supporting factors are identified, human resources quality, competitive supporting system, and entrepreneurship, as the key factors for the successful trilateral collaboration. The second part of the article presents a conceptual framework to implement the mutual collaboration model in Indonesia. Finally, this paper suggests the three institutions in Indonesia to actively reconstruct their roles in society to create new innovative product and/or innovative area creation in order to speed up the growth of knowledge-based economy, which in turn provide well-being and comfort for the individual and society. © 2020 Inderscience Enterprises Ltd.
