After years of neglect, the concept of entrepreneurial universities is now well-elaborated as a more efficient and effective type of universities. A university, which not only considers its traditional missions, i.e., teaching, and research, but also pursues a third mission, i.e., entrepreneurship. Such institutions should take several issues into account, in order to become more entrepreneurial and to realise their third mission. Therefore, entrepreneurial universities have to pay more attention to different issues such as technology transfer, academic entrepreneurship, creating spinoffs, improving entrepreneurial activities, etc. But, how it would be possible if the university suffers from a low level of reputation? Thus, the authors try to propose a conceptual model for reinforcing the reputation/brand of the entrepreneurial universities, to make it possible for them to enter into new markets, to achieve their entrepreneurial goals, and to improve the level of socio-economic development. Also, the model reveals that how branding will help these universities to realise their third mission.