Purpose - The present paper aims to elaborate and consolidate the existing knowledge of the entrepreneurial university domain, and also seeks to provide a framework for the third generation of universities, i.e. Entrepreneurial Universities. In this research the third mission of universities is considered alongside traditional teaching and research directions. Thus, a systematic framework will be offered to explain the dynamics and determinants of these entities. Design/methodology/approach - Since this area of research is at its embryonic stage, and a variety of fragmented researches have been done by various authors, researchers and scholars, and also as we were looking for a systematic framework, in our study we took advantage of systems theory and presented a systematic approach using the IPOO Model (Input-Process-Output-Outcomes Model). Thus, we conducted a set of semi structured interviews with 25 experts in this domain. Our experts were selected amongst university professors, policy-makers, and higher education officials of Iran. Coding of the gathered data was done in three phases and resulted in some concepts and constructs and a preliminary framework. Afterwards, the interviewees attended a focus group, and revised the framework. Findings - An entrepreneurial university could be defined and described as a dynamic system, which includes special inputs (Resources, Culture, Rules and regulations, Structure, Mission, Entrepreneurial capabilities, and Expectations of the society, industry, government and market), processes (Teaching, Research, Managerial processes, Logistical processes, Commercialization, Selection, Funding and financial processes, Networking, Multilateral interaction, and Innovation, research and development activities), outputs (Entrepreneur human resources, Effective researches in line with the market needs, Innovations and inventions, Entrepreneurial networks, and Entrepreneurial centers) and aims to mobilize all of its resources, abilities and capabilities in order to fulfill its "Third Mission". Practical implications - This study focuses on the concept of Entrepreneurial University, and tries to consolidate the factors mentioned in the relevant literature on university entrepreneurship and entrepreneurial university and synthesize those factors with expert's views in this area of study. Simply put, the result of this paper is a systematic framework for a typical Entrepreneurial University. Originality/value - The principal contribution of this paper is the systematic framework for an entrepreneurial university. While there is a variety of models and architectures in the literature, there is not a universal, acceptable, comprehensive and especially "systematic" framework. This article is going to fill this gap. It also updates the knowledge in the entrepreneurial university domain; provides a common view for scholars, academics, policy-makers and other beneficiaries; and prepares a fertile background for future studies. Keywords: Entrepreneurial University, Third Mission, Systematic Framework, IPOO Model. Paper type: Research Paper. (Contains 1 figure.)