Universities and educational institution do support students in their innovative ideas and startup ventures by following different ways:

Universities have  expanded branch of different departments under which students do their research work and university motivates them by holding seminars and workshops 
Universities pay handsome internship to students who are interested in making their carrier in innovation and start ups.
Universities for financially weaker students who cannot afford the entire expenses of startup help them by arranging investment and providing funds for their innovative ideas and taking their carrier to next heights.
University often take their students to other colleges, even in other industries and also in other sectors where students can do their  internship and can gain experience and knowledge of the work and can have startups. 
From providing financial aid to taking students in industries and to making them meet with icons who holds prestigious position in their respected sectors universities holds seminars where leaders of different sectors meet , discuss and students get a chance to show their hidden talent by analysing and doing task given to them.                                                      Hope this answer of mine find best to you and gives you a clarification regarding universities supporting innovative ideas and careers of the youths and the individual.