<p>The main objective of this research study is to assess the role of universities in the university-business-government (triple-helix) collaboration in Arequipa's (Peru) regional innovation system. Seven graduate school directors are interviewed and a survey is applied to 256 social science (law, management, investment projects, economy, and history social science) graduate school students enrolled in the 2017-2018 year. The results show a significant increase in the production of knowledge and in the formation of new research networks between universities, businesses, and the government. There is also a change in the economic model in that research and innovation are enhanced according to demand for traditional and non-traditional export products. However, there are cultural barriers that slow down the dynamics of the triple-helix. It is concluded that regional universities have increased their quantity and quality of researchers, their research publications, and their investment into research.</p>