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The first and second academic revolutions gradually transformed universities into organizations that are responsible not only for teaching, but also for conducting research and contributing to regional development through multiple ways. The chapter provides a comprehensive discussion of the entrepreneurial turn at universities. In this vein it introduces the impetuses behind academic entrepreneurship, and also discusses the related potential drawbacks of it that caused concerns among many stakeholders. The role of polyvalent knowledge in the academic entrepreneurial processes is also introduced. Examples of prominent scientists’ and universities’ involvement in technology transfer process, the demonstration of the role of government in the rediscovery of university-industry connections, respectively the discussion of the entrepreneurial model that took hold in academia all support better understanding of the rise of entrepreneurial processes in universities.
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