I would try to do both.
Rather than trying to achieve a single goal, I would try to achieve both. I would increase transfers to the universities to help them regain their rightful place as educational institutions of note in our regions, and as contributors to business development. I would also provide funding or tax credits to help businesses become better equipped, be more productive, and compete better in the international market place.
Productivity has dropped. We are not competitive enough. People have waited too long, or have been unable to invest in modernizing their equipment and becoming more competitive.
I would also take the opportunity to provide subsidies, to increase transfers to organizations that promote exports and economic development.