The paper provides a critical evaluation of the extent to which live projects on the Oxford Brookes MBA enterprise module can support the creation of entrepreneurial learning environments. The main premise argued is that entrepreneurial learning cannot be achieved through traditional class-based environments with pedagogical approaches, rather that entrepreneurial learning is an andragogical process which enables rather than determines student learning. Live projects provide such an opportunity and particularly provide for an environment in which students can be stimulated to do something entrepreneurial which requires an investment of self and in doing so learn experientially, including through failure. There are obvious challenges in adopting this approach: to students, who have been acculturated into seeking greater clarity and uncertainty; to clients, many of whom want solutions not simulated experiments, and to universities who have to balance the tension between the two. It is argued nevertheless that these tensions need to be managed If we are to equip graduates with the skills and attributes to manage and lead in an increasingly complex and uncertain world.