Moving on the path of innovation and entrepreneurship (value-creating) and fulfilling the desired social responsibility is one of the axes of the evolution of universities in recent years, especially in the last two decades. Innovative and value-creating university, for which various definitions have been proposed and various dimensions and criteria have been proposed for its introduction and creation, is one of the new initiatives and ideas for transformation in university systems. Despite identifying and introducing various components and criteria for an innovative and value-creating university, creating this type of university and purposeful and managed movement in the path of innovation and entrepreneurship requires a comprehensive roadmap and a balanced action guide. In order to evolve and achieve a comprehensive model, a guideline framework consisting of eight dimensions, as an action plan and operational model of an innovative and value-creating university by the European Commission and OECD, design and more than 600 universities and higher education institutes in Europe and OECD has evaluated this model. In this paper, through a review of documents, the guide to innovative and value-creating university is introduced as a guide for mainly European programs, for the gradual and systematic transformation of existing universities into innovative and value-creating universities with local considerations. All Iranian universities and higher education institutions with any mission, by learning and adapting actively and productively from this framework and gradually adapting their conditions to its dimensions and criteria, can take fundamental steps in the path of innovation and entrepreneurship and become an innovative and value-creating university in the Relation of Industry and University, Innovative and Entrepreneurial University, Value-creating University, Third Generation University, Guiding Framework for Innovative Higher Education Institute (HEInnovative)true and actual word.