The Triple Helix model of innovation has attracted considerable attention in both developed and developing economies as an integral policy making tool to enhance innovation and promote economic development (Etzkowitz and Leydesdorff, 1997). Specifically it advocates the strengthening of the collaborative relationships between academia, industry and government to improve innovation. However, no studies have holistically examined the overall barriers and enablers in implementing, and attempting to operationalise, the Triple Helix model. This paper aims to contribute to the study of the Triple Helix model by investigating the main factors that influence the implementation and operationalisation of this model. The discussion begins with a description of the model, highlighting its emphasis on an evolutionary process towards developing the type of interactive collaboration that leads to all three actors achieving long term strategic goals. Following this a discussion of the enablers and barriers in implementing the model is presented.