In the 1990s, the development of microelectronics and communication technologies spawned the information technology paradigm, characterized by an intensity of information which, transformed into knowledge and innovation, plays a crucial role for development. In order for this to occur, countries need to build appropriate institutional arrangements. This led to the Triple Helix model for systems innovation, which views innovation and technical progress in a Knowledge Economy as the result of a complex set of relations between universities, companies, and government. In this context, the current study aims to identify the impact of knowledge production and public policies for the production of patent applications by life sciences and health sciences researchers affiliated with federal universities in the State of Minas Gerais, Brazil. The analysis covered the years 1995 to 2016 and used econometric techniques in panel data. According to the findings, educational factors (thesis supervision), economic factors (technological products and the provision of technological services), and political factors (legal framework, financial resources, and incentive policies) impact the production of patent applications by the selected researchers. The results reveal efforts by government, although incipient, in the attempt to promote a technological leap.