Both attitudes towards, and practices of, entrepreneurialism in higher education vary. Beginning from a consideration of arguments about the character of entrepreneurialism in higher education, and the claim that the so-called Anglo-American democracies have moved further and faster down the road of entrepreneurialism, the article selects Australia as a case study, arguing that an opportunistic entrepreneurialism has led to problematic tendencies in the internationalisation of the Australian higher education system, over the past decade or two, as funding has declined in real terms. Examples are given, including recent attacks on Indian students, and audits of offshore initiatives. (Contains 3 tables.)