In a university startup ecosystem, there are a number of stakeholders. The faculty founder is one of the key stakeholders, being one of the inventors of the innovation, a founder of the startup, and likely engaged with the startup’s product development and fundraising. They need to understand their motivations founding the company and expectations for the roles they can play in helping the company. They also need to understand the constraints placed on them in terms of conflict of interest and commitment. The entrepreneur is one of the key external stakeholders who typically partners with the faculty founder to launch and grow the startup. For entrepreneurs, they need to understand the nuances of working with a faculty founder as well as working with the university to license the innovation. For these two stakeholders, a number of “lessons learned” are provided experienced faculty founders and entrepreneurs. The final stakeholder is the university administration. They need to understand the types of programs and policies that can help build and support a thriving entrepreneurial ecosystem.