Despite universities being a significant contributor to entrepreneurship, the components of the university entrepreneurial ecosystem (UEE) responsible for UEE success have not been discussed in the extant literature. Furthermore, the existing literature has not explored the interactions and interrelationships among the different components of UEE that can result in UEE’s success. In this article, using a mixed methodology consisting of thematic analysis, TOPSIS, and fuzzy DEMATEL, we have clarified what to expect from a successful UEE. We have suggested a pathway to achieve the same. This article also helps policymakers and universities to understand and design an appropriate entrepreneurial ecosystem in universities for students. It is one of the pioneering studies focusing on factors of UEE success.