Modern society demands a modern approach to the market, and an environment conducive to creativity and innovation is fertile ground for market competitiveness. Today, being average is not enough to achieve success in any sphere of life, including the placement of products or services on the market. Entrepreneurship, as an important pillar of every national economy, requires systematic development to be sustainable in the long term. In this context, universities emerge as institutions where future creators, innovators, and entrepreneurs mature. However, is there a sufficiently developed innovative culture at Croatian universities? What does this concept even mean? Does the development of an institution's innovative culture affect the innovativeness of its stakeholders, and in what way? Is there room for improvement? In which direction? This paper provides answers to these and similar questions using the example of the FunINO project – the Festival of Innovative Ideas conducted at the University North, which was awarded the Rector's Award for the best student project in the academic year 2022/2023. The central focus of the research is the assessment of the impact of the innovation culture at the University North on the propensity of students from the University’s graduate study of Business Economics to publicly present innovative entrepreneurial ideas. The paper is divided into six chapters. The first chapter defines the problem and subject of the paper, the goal, and the research question. It explains the sources and methods of data collection and provides a detailed structure of the paper. The second chapter defines terms related to innovation culture through a theoretical framework, while the third chapter explains the materials and methods used in the study. The fourth, central chapter presents the results of the conducted project relevant to this paper, while the fifth chapter provides a detailed interpretation of the results and elaborates accepting or denying hypothesis. In the sixth and final chapter, the entire paper is critically summarized and concluded with some final thoughts about the whole project.