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Based on Burton Clark's five pathways of university entrepreneurial transformation, this chapter aims to demonstrate Zhejiang University's vivid transformation from a research university into an entrepreneurial university. This chapter will consider ZJU's most representative organizational reforms including personnel system, academic governance system, and technology transfer system reforms and further illustrate the logic behind these reforms. First, it will assess the integration of entrepreneurial abilities with academic research abilities, focusing on how to stimulate academic productivity and how to connect academic production and technology transfer. Second, it will look at the integration of basic research and application research, and how the research loop is made possible. Last, the integration of research and talent cultivation will be assessed, translating “research advantage” into “teaching advantage.” It is essential that the university possesses “good governance” to promote entrepreneurial transformation which makes the most of organizational and institutional reforms.