The article deals with the psychological resources of the activity of small innovative enterprises at the university, connected with ensuring students' selfrealization. The study identifies the role and value of self-realization of students in the activities of these enterprises, and also the key conditions for selfrealization, such as: personal immersion in innovative business, attracting students' abilities and potential, social affinity in the process of entrepreneurial work. The authors propose to apply the person-focused mechanism of functioning of a small business enterprise in the university, which includes two dynamic modules: subjective and imperative. The first module activates the attributes of self-realization of students; the second module strengthens and develops these signs by introducing special principles for the application of innovative business technologies in the university. This view on the development of small business in the university gives an opportunity for a more organic integration of scientificeducational, commercial and person-existence backgrounds of modern Russian higher school.