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Innovation has been defined variously by authors. An all encompassing definition describes innovation as the successful introduction of a new thing or a method which is put into economic use. The entrepreneur is an innovator, who is at the center of an integrated model of economic development. This paper examined the goals and sources of the innovation and entrepreneurship, and applied it to the motives of Aare Afe Babalola to embark on the founding of a university, a social project that is highly capital intensive, without a profit motive. Afe Babalola suffered deprivation and hardship while growing up. Yet, he was not deterred. He achieved greatness by dint of hard work and self development. In spite of his great childhood challenges, he decided to give a substantial part of his life investment back to humanity. Dissatisfied with the decay in the university education in Nigeria, he found the university with the main objective of reforming education in Nigeria by example. The university which started on January 4, 2010 has been acknowledged as the best and the fastest growing private university in Africa. The paper made recommendations for the sustainability of the institution. Keywords; Innovation, entrepreneur, invention, creativity, succession

Innovation and Entrepreneurship: The Case of Afe Babalola University Ado Ekiti