This study examines the question of whether universities are optimizing the opportunity to develop entrepreneurs and corporate entrepreneurs for, in particular, knowledge based industries. To address the first hypothesis the study examined if universities in Canada offer at least one undergraduate and one graduate course in entrepreneurship. To address the second hypotheses the incidence, mission, role and activities of Canadian university based entrepreneurship centers were studied. The first hypothesis was supported while the second was not. This leads to the conclusion that overall, some universities are not key players in nurturing entrepreneurship and that there is evidence of considerable lost opportunities. The study utilized a census approach of all universities in Canada. This study has implications for economic development, innovation and the role of the university.