Entrepreneurial approaches to public mass education are not easily developed or managed by public sector institutions. Instead, private sector entities are often responsible for the development and implementation of innovative and entrepreneurial education. Part of the reason may be the resistance to change that isomorphism in mass education engenders, but the involvement of privately-funded, organized, and managed organizations plays a significant role as well. Private sector-driven educational change has become the dominant mode of entrepreneurship in 21st century national educational systems, but there are challenges and obstacles to privately managing public sector institutions such as education and the activities or curricula that comprise its core. To understand this phenomena the promises and challenges for innovation and entrepreneurship are discussed through an institutional framework.