Abstract
Educational services are a commodity that benefits primarily those who consume it (individuals and the state). In the context of this topic such aspects as the quality of the workforce, a high level of income, high wages for workers and sustained economic growth are very important. All this defines the investment nature of educational services. Consequently, education in the context of its interaction with business can be understood as a social institution, which trains a skilled workforce in accordance with market requirements, the state of culture, changes in science and technology, as well as oriented towards the dynamic development of society and the growth of competitiveness of national (regional) economy. The ongoing reforms in higher education still leave many problems and challenges unresolved. The State Programme of Education and Science Development for 2020–2025 implemented in Kazakhstan requires a new level of relations between educational institutions, business, and society. Undoubtedly, business understands both the challenges and difficulties of higher education and in general is ready to participate in such processes as development of professional standards, formation of the content of educational programmes, monitoring of labour market needs in development of innovative education. However, new effective models and mechanisms of interaction between HEIs and business, based on a systematic approach including economic, managerial and legal aspects, are needed. The aim of the study is to develop theoretical, practical, methodological recommendations for improving the models of interaction between universities and business structures, which will allow the implementation of high quality innovative education.