PurposeThe goal of the research is to analyze the university development trends in the national innovation system. The paper presents a review of the formation of innovative development strategies and the place of a university in them. The structure is based on the analysis of foreign trends of the transformation of universities and the examination of the efficiency of the interaction between the university, industry and the state. Russian experience in the transformation of universities is presented.Design/methodology/approachResearch methodologies include methods of statistical and comparative analysis and synthesis. The information analysis base of the research is composed of the reports of the World Intellectual Property Organization at year-end 2019, as well as global comparative assessments of the status and development of innovation activities by the Global Innovation Index and Global Competitiveness Index, which are calculated according to the methodology of the World Economic Forum and others.FindingsIn the course of research, the authors put forward a new model of universities within the framework of the national innovation system, which is based on the “triple helix model of innovation” implemented by universities, industry and the state. The logic and structure of the research are set forth in the following way. First, a review of the global practice of the formation and implementation of state innovation policy is given, with the university being a key link, the foreign experience in the transformation of universities is analyzed and the efficiency of the interaction between the university, industry and the state is examined. Furthermore, consideration is given to the Russian experience in the transformation of universities. In conclusion, the main findings of the research are presented.Practical implicationsResults testify that goals and objectives that can be solved by achieving indicators in the world rankings are important for improving competitiveness of education, but they are only efficient if they conform to management decisions that are taken for achieving them and coincide with strategic goals and directions that should be implemented within the framework of the national innovation and academic system.Originality/valueResearch hypothesis is as follows: modern age is characterized by the rapid development of digital technologies and globalization processes, which transform technologies and cultural patterns into techniques and methods of working with information. Despite the fact that a university is the center for the development of society and culture, which serves as an axiological core, it is subject to the transformation, which is mainly manifested in instrumental changes and the expansion of the social procurement range. The modern educational system is yet to find a contemporary conceptual framework of a university that would satisfy the up-to-date requirements of the global information society in an age of digital revolution and dominate in the educational services market.