While it is common to claim that university reforms are based on universal and standardised ideas about 'modernising' the university, few studies have examined in a more coherent way how the combined external pressure for change with respect to the areas of education, research and innovation has affected the university. In this paper it is argued that one can identify three different sets of logics concerning the current external reform agenda, and that these logics together create new challenges as to how knowledge is created, diffused and governed by the university. In the conclusion, it is discussed whether the current pressure for reform might change the university as we know it, or whether new institutional translations might emerge from the process renewing the university while maintaining its identity.