Most prior research on academic entrepreneurship focuses on the interplay between university research and technology transfer activities in the form of joint research, spinoffs, licencing and patenting. Yet questions still remain with respect to the role of academic entrepreneurship in education and learning. Lifelong learning has been developing to one of the top priorities for many higher education institutions, with a greater emphasis on developing transversal skills in students, including entrepreneurship. An increasingly adopted approach to developing transversal skills through education is through problem-based learning (PBL) which shifts the focus from teacher-driven education to student-centred learning involving active participation of learners. By taking the students' perspective, this article presents the effects of PBL in the context of university-business cooperation (UBC) on the development of student's transversal skills. According to our findings, UBC-based PBL has an effect on the interpersonal skills of students, such as teamwork and communication, and is a promising approach with regard to entrepreneurship education and paving the way for long-term and more intense UBC activities.