An entrepreneurial university must undertake two tasks: it must train future entrepreneurs, persons who will found their own businesses, and also develop an entrepreneurial spirit in students in all subject areas. Second, it must operate in an entrepreneurial manner itself, organizing business incubators, technology parks, and the like, involving students in these organizations and, through them, assisting students and graduates in the founding of businesses. Financial assistance to start‐ups should eventually be repaid to the given university from the profits made by the maturing companies and then be reinvested in new start‐ups. Thus the entrepreneurial university will contribute to the development of its region, and through co‐operation with other entities, to economic development in general.