Academic research has led to a plethora of innovations and entrepreneurial resources (I&E), allowing for enhancements to the greater good. Institutions of higher education have recognized the value of faculty (and student) I&E in mission statements and strategic plans, including developing students’ skills, thinking, and employability. Yet commensurate promotion and tenure processes and policies are not a certainty. We describe (1) mapping the unknown terrain of factors relevant to the evaluation of tenure-line faculty members’ I&E in United States promotion considerations, and related training for students via a survey of 99 diverse institutions, and (2) recommendations that inform an alliance of 67+ US institutions pursuing best practices for recognizing faculty I&E impact through reward structures.