At the present stage, in the context of global economic and political problems, the educational space in countries with a small open economy is of particular importance, since it is recognized as one of the key elements of ensuring public welfare. In addition to the costs directly allocated to education in Georgia, the government finances various retraining courses, the need for which is due to the higher education programs which seem to be incompatible with the labour market. The purpose of this article is to determine the cost efficiency of retraining incurred by the state, and the reasons for these additional costs as well as the aspects of retraining (profession / qualification) provided to higher education diploma holders. This last group is of particular interest to us to determine what causes the need for services provided by the employment agency in the case of people with higher education which, possibly, leads us to gaps in study programs, which, in turn, can be caused by a) higher education programs, which cannot give graduates the proper skills; or/and b) the institution of higher education has not studied the required number of graduates/skills needed in the market (and determines the number of students according to its academic staff) and/or graduates with low academic performance (which are supported by the institution of higher education so as not to lose a voucher) need retraining.

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University -Enterprise cooperation considers an active and efficient cooperation of the Scientists, Industry and government. The university is a significant actor in this model as it not only produces the knowledge, but also creates new opportunities, protects intellectual property and converts the research outcomes into the market attractive product. This cooperation ensures the educational programs equip the students with the relevant competences, and makes research suited to the demand of the market and government. Implementation of that helps the university realize its third missionserve the country and support its economic development. This paper presents our attempt to describe the role of the regional government in the University -Enterprise cooperation based on the regional university in Georgia. Despite the various studies regarding University -Enterprise cooperation implemented in Georgia mainly dealing with single components of the cooperation, we tried to highlight the significance of the government in this cooperation and its authentic character.

University–enterprise cooperation considers an active and efficient cooperation of the scientists, industry and the government. The university is a significant actor in this model as it not only produces knowledge, but also creates new opportunities, protects intellectual property and converts the research outcomes into a market attractive product. This cooperation ensures that educational programs equip students with the relevant competences, and entails research suited to the demand of the market and the government. This implementation helps the university realize its third mission – serve the country and support its economic development. This paper presents our attempt to describe the role of the regional government in the university– enterprise cooperation based on a regional university in Georgia. Despite the various studies regarding university–enterprise cooperation implemented in Georgia mainly dealing with single components of the cooperation, we tried to highlight the significance of the government in this cooperation and its authentic character.