Positioning the liminal and the liminoid on a continuum, we define a “space” within which practice-led, experiential learning occurs. The more liminal processes within this space are associated with familiarity, wide social recognition, and relative security, the more liminoid are allied with risk-taking, innovation, creativity, and higher levels of uncertainty. Our research was conducted among student or founders on M-Entrep, an integrated Masters and venture creation program. Our findings suggest it is the coexistence of the liminal program experiences, such as the “rite of passage” of obtaining a Masters qualification, that act as a safety net as students embrace the fluidity and lack of security associated with the more liminoid experiences many associate with the venture creation endeavor. We argue that M-Entrep is an example of a program that interweaves liminal and liminoid processes, creating a texture that is both open and containing, facilitating “entrepreneuring” and encouraging students to reimagine themselves in new roles and statuses. By exploring entrepreneurship education through the lens of the liminal and the liminoid continuum, facilitators of entrepreneurship education programs can better appreciate, design, and influence the texture of this space to benefit the student learning experience.