This article aims at using the theory of resources and capacities for assessing the substantive role of research in Colombian universities. It is a result of a research conducted in a private university in the city of Manizales, Colombia, where this approach is applied based on intellectual capital involving human, structural and relational capital. The measurement of the researchers’ profile and the characterization of research groups are relevant issues for human capital. The organizational culture, innovation, technological infrastructure; project management and products of science, technology and innovation are essential in the structural capital. The relational capital integrates communitiesand networks, inter-institutional cooperation and the relationship among University, Enterprise, State and Civil Society. The main conclusion of this study is the ability to manage intellectual capital in higher education institutions to strengthen Science, Technology and Innovation CTI within the framework of knowledge management and to measure results and impacts of the research role.