This chapter opens with a brief historical account of the vision and development of the land grant college and university system. This account begins to frame the land grant model as an important American social innovation. Next, the legacy of the land grant system as a social innovation is extended through a review of the role the Cooperative Extension System in enacting the New Deal during the Great Depression era. The topic culminates in the chapter with a critical exploration of the revenuedriven university technology transfer system that is currently in place and presents an alternative model that is anchored in the principles and practices of social entrepreneurship. Land grant colleges and universities are positioned as key agents in advancing such an alternative model, which is consistent with the historical role these institutions have played in advancing the economic and social interests of the nation.