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Article presents the methodological and analytical generalization of the modern practices of the institutional ensuring of the organic cooperation in frame of innovation cycle by the government, Universities and industries. The "Triple Helix" innovation mode is considered in order to undertake the international comparative analysis of Ukraine's competitiveness according to appropriate indicators. Author proposes to improve the Ukrainian current innovation policy through the creation and supporting the special institutional measures regarding to enhancing the interaction between the government, Universities and businesses. The core of the proposed conceptual model is the Schumpeterian theory of economic development and its policy implications in the economically successful countries which have become such because they constantly generate new commercialized knowledge in the forms of process and product innovations. Therefore, dynamic and successful countries consider the transformation of institutions that promote the development of knowledge and innovation potential among the immediate reform measures. It concerns the reform of the institutions of education and science, infrastructure of transfer of innovative technologies, supporting of innovation in all areas of life, providing a major international integration of the country to the world educational, scientific and innovative ecosystem. In order to realize such approach, the developed countries have transformed the forms and methods of innovation policy by building the new effective managerial and organizational conditions to activate the processes of generating and commercializing innovations through changing their innovation mode: from the "linear" model of innovation cycle to the "cooperative" one, i.e. to the "Triple Helix" mode. These methodological and practical transformations have changed radically the role and significance of the forms of interaction between institutions of science, education and business in the innovation process and have raised the role of Universities. This led to the formation of a new type of university - Entrepreneurial University. It is important to create in Ukraine a special institutional background to build a "cooperative" model innovation cycle, to develop and adopt regulations that will promote processes of self-organization in the area of innovation cooperation of research institutions and universities on the one hand, and business and government agencies - on the other. In this context the problem of greater autonomy for universities becomes very urgent. Also, this autonomy can help ensure a greater diversification of the sources of funding (through commercial relations with businesses and government agencies under innovation cycle) and to become more flexible and mobile in answering the challenges of external market environment.
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