As city and nation states battle to emerge from world recession, keen to define their position in a new order global economy, education is being propelled relentlessly centre stage. Higher and tertiary education is under huge pressure from world governments to drive economic growth and play a key role in securing their global position. As global markets develop rapidly, governments perceive that innovation and economic growth will be generated from growing global networks of researchers, students and institutions. But what challenge does this present to traditional roles of universities and colleges? How will this change the purpose and practice of higher and tertiary education? Who are the new players and partners – governments, business, academics, and students? What is the relationship between them and how is this shifting expectations, roles, responsibilities and contributions?