Universities are increasingly seen as key players in driving innovation, either directly or indirectly, and thus play a significant role in promoting both regional and national economic growth. Beyond their traditional roles in education and research, universities are now expected to foster entrepreneurial mindsets among students and cultivate a supportive entrepreneurial environment within their institutions. This has led to the development of student entrepreneurship and the rise of startup ventures initiated within university settings. As this trend is relatively new in the Russian Federation, there is a pressing need for thorough and systematic research on the topic. The article focuses on the development of student-led startups, outlining the primary stages of their growth. It identifies the main stakeholders involved in student entrepreneurship, clarifying their functions and influence in the startup formation process. The research also analyzes the types of university activities that help build students’ entrepreneurial competencies and assesses how significantly each activity contributes to developing particular skills. The findings are relevant to a broad audience interested in exploring and advancing student entrepreneurship. When considering innovation in education, two central issues in pedagogy emerge: the need to study, generalize, and disseminate effective teaching practices, and the challenge of applying psychological and pedagogical research to educational practice. Innovation in this context lies at the intersection of theory and practice, and the outcomes should reflect this dual nature—both conceptual and practical. The development, implementation, and application of educational innovations highlight the critical role of management in this process. Teachers are increasingly expected to function not only as educators but also as creators, researchers, and promoters of new teaching methods, technologies, and theories. Successfully managing educational innovation involves the deliberate selection, assessment, and adoption of new ideas and approaches introduced by peers or academic research. This demands specialized training in pedagogy and psychology, as teachers must integrate subject-specific expertise with modern instructional and psychological knowledge. This integration enables them to effectively evaluate and implement new pedagogical strategies. In essence, the concept of "innovation" refers to introducing something new or different. Within the educational sphere, it signifies updates or changes to the objectives, content, methods, and organizational forms of teaching and learning, emphasizing collaborative efforts between teachers and students.