Globalisation and the intensification of competition between nations have underpinned increasing investment in higher education and university-based research, especially in response to the on-going economic crisis. Research has continually showed that the only viable growth strategy is through innovation for which higher education plays a major role both directly, through research and indirectly through the quality of graduates. The relationship between higher education and economic growth relies on two notable connectors: human capital and knowledge production. First, higher education produces graduates with modern skills who are capable of independent, autonomous operation. This raises the overall productive capacity of the economy. Secondly, higher education produces a cohort of skilled knowledge workers that can catalyze the adoption of research, carry out further research and who are technologically savvy employees in industry.