Framed in terms of the Third Mission, the “enterprise” or “entrepreneurial” university has increasingly become normalised in public policy; however there remains much contention about the implication of third stream activities. There is little rigorous evidence as to whether the Third Mission adversely affects teaching and/or (basic) research. Martin and Etzkowitz (2000) note there is some anecdotal evidence that the Third Mission has had a positive impact. Indeed, it is to this debate that this paper seeks to contribute. It considers how the Third Mission can positively reinforce teaching and research activities and how this is arguably more significant than the Third Mission itself. Indeed, it proposes that triangulating teaching, research and third stream activities should reinforce the respective dynamics of each through their recursive and reciprocal development. Conceptualising institutional engagement with the third stream holistically in terms of entrepreneurial architectures may enable universities to stimulate institutional development beyond the Third Mission. The paper concludes by reflecting upon and looking towards the future of higher education policy and the management of higher education institutions.