Universities and colleges are increasingly recognized as having a key role in national and regional development processes (Goddard et al 1994; Keane and Allison, 1999; Chatterton&Goddard 2000). The role of universities in this respect is likely to further increase given the development of a 'knowledge-intensive' economy and society. Entrepreneurialism and venture capitalism have served as the historical backbone and economic back drop for this country's past, present and future prosperity. Many, notably America's immigrants, have come to see education plus entrepreneurship as the 'American...