For economies well inside the technological frontier, in order to be effective, support for innovation-oriented tertiary education needs a design that defends against emigration of its graduates.
Here, aggressive support of less ambitious (tertiary or secondary) education is apt to be more effective in raising productivity through promotion of skills for technology imitation and adoption of inside-oriented innovation.
See papers by Krueger and Lindahl for empirical support, and by Aghion, Boustan, Hoxby, and Vandenbussche for a recent modeling exercise confirming these results.
This strategy may need management training to shape enterprise culture in order to be effective.
Through such measures, over time the economy is apt to move relatively rapidly towards the technology frontier.