As academic libraries around the world face the dual challenges of rising demand but limits on funding, managers look for ways to improve library performance that do not add significantly to the budget. This paper presents a novel relationship between intrapreneurship and Enterprise 2.0 that suggests there are relatively cheap and easy ways to implement innovation in academic libraries. Building on research data gathered at the University Library in Belgrade, Serbia, the authors advocate ways of enhancing library business performance by using a newly established relationship between intrapreneurship and Enterprise 2.0.