This article reports the entrepreneurial activities of two university faculties, one Canadian and the other Australian, that were designed to meet the educational needs of students and to garner the resources necessary for program delivery. A conceptual framework for educational entrepreneurship, containing six dimensions, is proposed. The dimensions are: innovative behavior, networking, time-space communication framework, local-global perspective, educational organizations as knowledge centers, and integrated face-to-face and Internet-based learning. Major considerations suggested for entrepreneurial initiatives include access, equity, quality, and sustainability. Educational entrepreneurship is defined as the strategic focus on creating short and long-term opportunities for learning that will make a significant difference for individuals and their societies. Elements of educational entrepreneurship highlighted are strategic planning, the capacity to make responsible but timely decisions, business acumen, faculty development, and strategic alliances. Entrepreneurial leadership must be found among academic and support staff, as well as students. Impact on students is discussed. Other lessons learned include the need for a multi-faced approach to institutional change that incorporates a clearly articulated educational vision, well developed policies and procedures to guide action, sustainable funding plans, and evidence-based practices. Although educational entrepreneurship is reported to be difficult to achieve and seen as vulnerable to changes in personnel and political influences from within the organization and beyond, it is seen as providing a more equitable access to graduate studies and promoting growth in social and human capacity. (Contains 3 tables.)