This introductory chapter provides an analytical framework for developing policies to promote entrepreneurship in higher education. It addresses two themes essential to the role of higher education institutions (HEIs): “knowledge transfer” and “entrepreneurship education and training”. The chapter offers key reasons for fostering entrepreneurship in HEIs, and the nature, type and scope of entrepreneurship that can help to add value to both HEIs and the wider economy. There is a detailed and analytical account of some of the underpinning philosophies that have influenced current thinking on entrepreneurship education and its direct and indirect manifestations, such as technology transfer mechanisms and academic spinoffs. The chapter also considers the crucial issue of the context in which various developments take shape. This analysis forms the basis for developing a framework within which policy can be created to help foster entrepreneurship in universities.