Research has enjoyed an extended ‘heroic’ age, characterized by the individual pursuit of discovery and creation, and it has created a paradigm-particularly in the natural sciences-that has been reinforced by the growth and success of the research university. This mode of research has unquestionably been a public good, being both excellent in its product and pervasive in its social and economic impact. But the age of discovery is coming to an end, and our model for research enterprise is subject to a legitimate reconfiguration that reflects a progressive change from discovery to utility, to an emphasis on the interaction between the producers and users of research, and towards the creation of an enterprise culture. Furthermore, in a knowledge economy, universities are not the sole locus for research or knowledge.