This research studies the development of the regional innovation policy in the Metropolitan Region of Santiago, Chile, and its Regional Innovation System. The author has seen the need to carry out this research due to the incongruence between the potential of this region for the generation of innovation and the results that it shows. This document focuses on the first regional innovation strategy (2012-2016) developed in the region, in terms of its objectives, design and implementation. Continuing with an analysis of the configuration of its regional innovation system according to The Triple Helix Model. Finally, recommendations are provided to improve the implementation and effectiveness of it. The data collected were compared with the theory and other studies on these subjects, trying to avoid the author's bias. The conclusions of this research show a weak regional institutional configuration, which ended up causing a partial failure during the implementation of the regional innovation strategy, however, the strategy showed that it was intended to go in the right direction in terms of what the literature has shown about innovation at a regional level in developing economies.