The study acknowledges the increasing potential of various forms of Diaspora capital (intellectual, social and financial), which provides fertile ground for research studies on different aspects of Diaspora. The monograph is also an appeal to policy makers, who need to acknowledge that Diaspora is not only an unexploited national resource, but Diaspora communities are also marginalized constituencies. Extended data base, which also includes close to 7000 Serbian PhD’s, show that practically there is no single field (academic, research, cultural, entrepreneurial, and sport) in which Serbian Diaspora is not significantly represented. The model of the Diaspora Virtual University (DVU) embodies a framework designed to enhance transformation of brain drain into brain gain through brain chain (networks) and the necessary enabling processes. DVU may be the nucleus and, eventually, the hub of congregation of experts living in Diaspora. The findings serve as theoretical and practical resource for academics, researchers and policy makers, as they corroborate the importance of DVU for the creation of knowledge economy frameworks in other countries with significant Diaspora.