Factors affecting the entrepreneurial intention of university students in Ho Chi Minh City, Vietnam

Abstract

Entrepreneurship has increasingly played an important role in economic development and innovation in the 4.0 Industrial Revolution. However, students’ entrepreneurial intentions remain below expectations. Integrating the Theory of Planned Behavior and the entrepreneurial ecosystem model, this study examines the impact of personal competencies, subjective norms, educational environment, attitudes, and opportunities from Industry 4.0 on students’ entrepreneurial intentions in Ho Chi Minh City. The research employs a quantitative approach, analyzing 425 valid survey responses and validating the model using SPSS and SmartPLS. The demographic profile of respondents includes students from multiple universities in Ho Chi Minh City, across various majors and years of study, providing a comprehensive view of the student population. The findings indicate that all the examined factors positively influence entrepreneurial intention, with technological opportunities emerging as the strongest determinant, followed by personal competencies and the educational environment. Beyond its theoretical contribution to entrepreneurial intention research, this study offers practical implications for universities and policymakers in enhancing entrepreneurship education, strengthening financial support, and fostering technology adoption to cultivate students’ entrepreneurial spirit. Integration of major theories, including the Resource-Based View and Opportunity Creation Theory, also helps provide a multidimensional understanding of entrepreneurial intention within the framework of a developing nation like Vietnam.