Within the knowledge-based economy several institutions are involved in product innovation processes. Literature study has shown that the most researched and cited are the industry-universitygovernment relations, presented in the Triple Helix model of institutional relations within new product development (NPD). Based on a case study of the Academic Virtual Enterprise, we have put the sole input of these institutions in NPD into question. We have tested and supported the claim that the user and the society are equal partners in the product innovation process. We have put forward the Fourfold Helix model that features a new formation of institutional relations where special focus is placed on the involvement of the user and the society in NPD