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Knowledge commercialisation and the focus on economic and parametric evaluation of universities have been evoking heated debates in academic circles. However, the transition of the tertiary education system from the Humboldtian model to an entrepreneurial one that would incorporate both the financial aspect and the widely understood social dimension might become a catalyst for promoting sustainable development of the country and society. In this context, the social responsibility of the university is worth deeper reconsideration. It is the Higher Education Institutions (HEIs) along with the local community that shoulder the responsibility for creating a unique response to the present challenges in order to suit best the needs of all the stakeholders.
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