The "triple helix" model is considered as being a spiral model of innovation contributing to the country and regional improvement by fostering interactions between academic, industry and government. This model highlights the ties between the three parties at different stages in the process of knowledge capitalization and flow. Although, this model has proven to be effective in some countries, some questions remain regarding its effective implementation in Thailand. This paper presents an adapted version of the helix model that could contribute to development of ties among stakeholders through strategic alliances. The success key factors leading to an economic development mission by universities are as well discussed.