Innovation is one of the key elements of countries’ competitiveness. In the face of continuous world economic changes, the TriplernHelix Model (University-Industry-Government) relationship allows many countries to improve and accelerate their innovation processes.rnIn developing countries, which are in transition towards innovation-based economies, such as Malaysia, Triple Helix (TH) can serve as arntool to speed up this transition. This paper explores the implementation of Triple Helix to discover the extent of collaboration betweenrncompanies and universities both on a global scale and particularly in Malaysia. The study uses a quantitative methodology based on anrnintegrative analysis of literature, secondary data and results of a survey, conducted among four Malaysian research based universities. Thernresearch finds that the average performance of Malaysian research based public universities in the Triple Helix system is generally good.rnFor individual universities this study finds that the National University of Malaysia (UKM) has performed above average, whilernUniversity of Malaya (UM) shows below average performance among major research universities in Malaysia. The findings of thisrnresearch highlight the need to solve the identified problems in parallel with implementation of the open innovation concept in universityindustryrncollaborations.