This article analyzes the institutional commodification of science and its consequences for researchers: are the boundaries separating researchers from entrepreneurs collapsing under the pressure of economic demands? Is the scientific identity of the former at stake? The analysis of a sample of 41 researchers who created their own companies makes it possible to distinguish between three forms of entrepreneurship —“academic,â€? “pioneeringâ€? and “Janus-likeâ€?— that constitute particular responses to this institutional commodification. Each of these types follows a specific pattern of organizing the relations between the company and the research laboratory, a particular “mode of coordination.â€? Yet, this entrepreneurial commitment does not imply the complete loss of academic bearings. On the contrary, it appears that a strong differentiation between the researchers ensures the cohesion of the collective enterprise. This observation calls into question the relevance of the themes of “hybridizationâ€? or epistemological transformation.