This study examines the experiences of business development centers in higher education institutions (HEIs) to promote entrepreneurship in underserved communities. It draws experiences and perspectives from multiple stakeholders to examine the contribution of HEIs toward equitable economic development and social renewal. Based on extensive qualitative data analyses, this study highlights the role of HEIs as anchor institutions and intermediary enablers of economic development in bridging traditionally split efforts between different university missions. The findings contribute to research and practice on entrepreneurship education and universities' engagement in fostering inclusive entrepreneurial ecosystems and equitable growth through entrepreneurship.