Alumni engagement plays a crucial role in driving innovation in university-based entrepreneurship ecosystems. We employ an inductive, informant-centric research design to explore the processual dynamics surrounding the early alumni engagement of entrepreneurship graduates and how these translate into enterprising behaviors that foster technology transfer and knowledge-intensive entrepreneurship. Our inductive analysis advances the theoretical understanding of the beginning phases of the alumni engagement process among entrepreneurship graduates, the key drivers that make them gravitate toward different forms of alumni engagement, and the role and impact of their engagement in the surrounding ecosystem. © 2022 The Author(s). Published with license by Taylor & Francis Group, LLC.