Recent decades have seen many countries reforming their higher education systems, affecting the mission and governance of higher education institutions (HEIs). HEIs are now expected to produce entrepreneurial capital and to be catalysts for regional economic and societal development, taking on significant roles in entrepreneurial ecosystems. Hence, this article addresses entrepreneurial ecosystem stakeholders' preoccupation with and interest in the role of HEIs in the future and assesses the opportunities and risks associated with HEIs pursuing entrepreneurial pathways. The authors propose five future scenarios, which they term 'worldwide', 'transdisciplinary', 'adaptive learning', 'blended' and 'ecosystem'. These scenarios demonstrate that internationalization, digital transformation, collaborative networks and co-creation processes are key drivers of the advancement of higher education and provide guidance for HEIs and policymakers on the framing of decision-making agendas related to possible entrepreneurial pathways. Based on experts' assessments, the authors consider the transdisciplinary and blended scenarios to be the most auspicious.