The actual infrastructure of the information society sustains the globalization trend and increases the importance of the information and knowledge. The development of the knowledge society is the direct consequence of the mix of economic, social and cultural processes, which involve the knowledge creation and its equitable distribution, access and sharing. Universities, as poles of knowledge, creativity and innovation, play a key part in the regional development and the global competitiveness. The universities are active promoters of the innovation culture at the regional and international level, by increasing the synergy among education, research and innovation. The article focuses on the role of the academic area in the development of the learning and creative society at the regional level, contributing to the design of new knowledge and technology embedded products, services and organizational processes, which represent the premises of the global competitiveness. The most important challenge the academic environment faces in the new economy is to bridge the gap between the political decision, the governance and the labour market, offering innovative solutions and developing the intellectual capital to address the various issues of the knowledge economy. The article highlights the role of the universities as regional development drivers, by analyzing the economic performance of the Bucharest-Ilfov region and the direct influence of the trinomial equation: education-research-innovation. (Contains 3 figures, 9 tables, and 1 footnote.)