"Fourth Generation" Universities and Regional Development

In the XXI. century the role of higher education is in a transition phase, the successful higher education institutions have an important role in the formation of the economy and the society of a certain region. Several successful examples prove that universities have a quite intense role in the improvement of competitiveness of certain territories and in many cases they have an active role in endeavors regarding economic development. Modern economic development demands that due to the increased social and economic commitments the traditional (education and research) activities of the universities should broaden. To be able to exploit their optimal potential regarding economic development, high quality education is a necessary but not sufficient factor (first generation universities). High-standard research (second generation universities) and the adaptation of research outputs by the local economy (third generation universities) are also necessary. Through this the competitiveness of enterprises will increase that may result in the increase of competitiveness in the region. However, these processes and effects improve the competitiveness of a certain territory through direct or indirect, mainly complex transposals. These processes and effects may vary in case of regions with different competitiveness. Nowadays the modern higher education institutions should be able to proactively influence the economic and social processes of their regions. Higher education institutions who possess this feature may be called fourth generation universities. With the reinterpretation of the well-known models of regional economy (Porter's Diamond Model, Triple Helix Model) in a university context we highlight the framework in which the modern "fourth generation universities" may function. The goal of this study is to review and systematize the active and passive activities of universities that serve the improvement of regional competitiveness. We explore the success factors, "bricks" with which we can characterize the internationally successful universities that have significant impact on local economic development