The institutional TH model focuses on relations of universities, industries, and governments in networks. Institutional arrangements develop over time along trajectories. The Triple-Helix metaphor of university-industry-government relations can also be elaborated into a neo-evolutionary model combining the vertical differentiation among the levels (in terms of relations, correlations, perspectives, and horizons of meaning) with the options for horizontal differentiation among the codes (e.g., markets, technologies, politics, etc., oper-ating in parallel). The neo-evolutionary model focuses on the interactions among selection mechanisms (markets, technologies, endowments) at the regime level. The historical and evolutionary dynamics feedback on each other. The relative weights of the historical versus evolutionary dynamics can be measured as a trade-off. Among three or more selection environments, synergy can be generated as redundancy on top of the aggregates of bilateral and unilateral contributions to the information flows. The number of new options available to an innovation system for realization may be as decisive for its survival more than the historical record of past performance.