The number and scope of faculty and institutions involved in academic entrepreneurship continues to expand, and this has significant implications for universities, involving potentially wonderful opportunities but also dire risks. This paper looks beyond academic capitalism, a theory that currently dominates the study of higher education, by introducing several other theoretical frameworks for interpretation of academic entrepreneurship: resource dependence theory, the Triple Helix model, and Mode 2 knowledge production. Acknowledging the fact that academic capitalism significantly furthers our understanding of academic entrepreneurship, I argue that these other conceptual propositions are constructive in enlightening perspectives on the various aspects of academic entrepreneurship, although as of yet no single work completely explains all facets of this complicated issue.