This research aims at contributing to a broader comprehension of the nature of the Triple Helix Model within the National System of Innovation. The research hence undertakes an exploration and explanation of the nature of existing or absence thereof of the collaboration among higher education institutions (HEIs), the industrial sector and the government in stimulating innovation. The literature review provides a landscape of the Model, which is crucial in comprehending the relationship of Triple Helix network actors, as a basis for formulating a new framework for strengthening the Model. Therefore, this article explores the current state of the Triple Helix Model and its potential weaknesses and proposes corrective action for the legitimatization of a new framework in an authentic environment. The pragmatic research design provides the basis for undertaking a desktop literature review followed by a mixed-research approach comprising questionnaires followed by interviews. The research methodology provided an overview on the research design, types of data collected, sampling issues, and relevant and ethical considerations. This research recommends that the government's role within the Model should be defined. The research also highlights that collaboration between HEIs and the private sector should be strengthened by applying the proposed new framework. The recommendations inter alia propose that improving research commercialization should be high on the Triple Helix policy agenda as well as the consistent realigning and repositioning of the Model's strategy to meet the changing needs and patterns of network actors. However, this can only occur among knowledgeable network actors.