Regenerative medicine research at university laboratories has outpaced commercial activity. Legal, regulatory, funding, technological, and operational uncertainty have slowed market entry of regenerative medicine treatments. As a result, commercial development has often been led by entrepreneurial ventures rather than large biopharma firms. Translating regenerative medicine across the university-industry boundary links academic scientists, technology transfer organizations, funders, and entrepreneurs. Conflicting motivations among the participants may significantly hinder these efforts. Unproven downstream business models for regenerative medicine delivery further complicate the entrepreneurial process. This chapter explores the challenges associated with entrepreneurial activity commercializing regenerative medicine science developed at research institutions.