This article focuses upon the adoption and implementation of United Kingdom government support for third stream business-facing activities in UK higher education institutions (HEIs). The article, concerned with income generation and the creation and application of knowledge beyond the confines of the academy, draws on policy literature and qualitative data from research conducted in three contrasting HEIs. It reflects critically on the policy embrace of the third stream agenda in the UK, to suggest that despite increased UK government funding and policy pronouncements in support of such activities, the take-up and operationalisation at institutional level remains variable and piecemeal.