An entrepreneurial university with multiple missions for teaching, research and economic and social development is superseding the research university as the academic paradigm. Traditional academic roles are revised to include entrepreneurial elements, both to attract external resources and to see that knowledge is put to use. As a remit for regional cluster development takes hold globally across the tertiary academic sector, academic knowledge is interrogated for its potential to become the source of new jobs in arts festivals as well as start-ups. The rise of the entrepreneurial university is a key driver of transition from an industrial to a knowledge- based society, irrespective of previous development level or academic tradition. Controversy over entrepreneurial academic activities augurs this transition.
Keywords: еntrepreneurial university, knowledge society, academic mission, cluster development, academic entrepreneurship