In the context of the global knowledge economy, the three major players--university, industry, and government--are becoming increasingly interdependent. As more intensified interactions and relationships of increasing complexity among the institutions evolve, the Triple Helix model attempts to describe not only interactions among university, industry and government, but also the internal metamorphosis of each sector. This study explores the implications of the Triple Helix framework through a qualitative case study analysis of the University of Alabama, a public flagship university without a long history of external grant support located in the southeastern USA.