This paper takes stock with one-size-fits-all models on the role of universities in regional innovation systems in Asia. It proposes a contextual and evolutionary perspective which focuses on the match between the specific competences and capabilities of the universities and the firms' particular requirements. Drawing on a non-deterministic evolutionary perspective, it makes an empirical analysis of the role played by universities and publicly funded research organizations in initiating, sustaining and deepening Bangalore's regional innovation system for the IT-service and software industry.