The general objective of this research is to identify and argue which are the main strategies that a university can apply in order to develop an appropriate entrepreneurial ecosystem mainly throughout managing the knowledge processes, knowledge resources and knowledge actors. Firstly, the content of the qualitative analysis serves the purpose of designing the framework about the role a university can play for contributing to local economic and social growth. Thus we are mapping and arguing the essential components and processes for serving the role of a university in developing an entrepreneurial ecosystem. In this sense we are approaching concepts like: strategic knowledge processes, the components of the entrepreneurial ecosystem, the role the university can play in developing the mechanism of an entrepreneurial ecosystem. Quantitative research is based on a survey using questionnaires filled in by students enrolled in business administration area programs and special programs offered to all those interested in becoming entrepreneurs. There were registered a number of 202 valid questionnaires and then we processed them by using the specialized software package SPSS v.25. The quantitative analysis offers the possibility of identifying the main factors which influence the students entrepreneurial behaviour. By processing the data throughout Principal Component Analysis (PCA) we identified a set of 6 factors which are the most powerful in predicting the students success as future entrepreneurs. In the discussion section we will argue the significance of each factor. Combining these results with the university’s resources (infrastructure, endowments, technology, human capital, intellectual capital, and knowledge) we concluded to a couple of strategies that universities might implement in order to develop an entrepreneurial ecosystem, starting with the perfecting of their main actors, which are the students.