Fostering sustainable business values: The impact of universities on shaping sustainable entrepreneurial intentions in higher education students from developing economies

Sustainable entrepreneurship and Sustainable entrepreneurial intentions

Such enterprises prioritize sustainability by reducing their negative impact on the environment and ensuring that they benefit the community and economy. This involves reducing the negative environmental impact by minimizing the use of natural resources in the business process. This approach can lead to innovation and effective risk management, resulting in cost savings and enhanced efficiency and competitiveness. Sustainable entrepreneurship strives to create businesses that benefit various stakeholders, including the environment, future generations, and society (Yasir et al., 2021). Entrepreneurial activity is recognized as a critical driver of social and environmental progress in sustainable business practices (Betáková et al., 2021). By adopting a corporate social responsibility (CSR) approach, businesses can play a pivotal role in addressing ecological degradation. One way to achieve this is by engaging in activities that promote ecosystem protection and restoration (Schaltegger et al., 2018). Through innovative techniques, entrepreneurs can leverage their unique perspectives to address ecological, societal, and economic concerns (Belz and Binder, 2017). The relationship between entrepreneurship and sustainability is based on collaboration in which businesses work together to achieve long-term social and environmental benefits (Liñán and Fayolle, 2015). Entrepreneurship is often seen as a conscious decision-making process, rather than a reaction to external factors. Numerous studies have been conducted on entrepreneurial intention, and several models have been developed, including the entrepreneurial event model and Theory. These models have helped shed light on the factors that influence entrepreneurial intention and behavior at various levels, such as cultural, institutional, and local communities (Dentchev et al., 2018). However, while considerable research has been conducted on entrepreneurial intention, little attention has been paid to sustainable entrepreneurship (Cieciuch, 2017).

Theory of Planned Behavior (TPB)

Ajzen’s “Theory of Planned Behavior” has gained widespread use in various academic disciplines for predicting and comprehending human behavior (Bird, 1988; Ajzen et al., 2009). The Theory posits that human behavior is primarily driven by intentions, which are shaped by three attitudinal constructs: “Attitude,” “Subjective Norm,” and “Perceived Behavioral Control.” Perceived Behavioral Control. Perceived Behavioral Control. (Bird, 1988). Marketing researchers and social psychologists have effectively applied TPB-based models in practical applications and fundamental research (Mahajar et al., 2012).

The effectiveness of entrepreneurship education has often been measured using intention rather than the actual rate of venture creation. Measuring the actual rate of venture creation can be impractical because of various factors, such as a long lapse between graduation and becoming an entrepreneur, which may affect the reliability of the study. Additionally, several other factors can influence the decision-making process and, in the end, weaken the relationship between education and entrepreneurial behavior (Bird, 1988). Entrepreneurship affects individuals’ intentions and behavior, even at an implicit level, by influencing their attitudes. The Theory of Planned Behavior (TPB) provides a comprehensive framework for understanding how attitudinal factors are linked to intention formation. Consequently, by utilizing the TPB, it is possible to evaluate the influence of entrepreneurship education on intentions (Bird, 1988; Ajzen, 1991).

In this study, entrepreneurial attitude refers to an individual’s inclination to pursue entrepreneurship (Bird, 1988; Ajzen, 1991). This inclination is demonstrated by optimistic expectations and beliefs about self-employment. Generally, an individual’s intention to engage in a particular behavior is influenced by their attitude towards that behavior (Bird, 1988; Creswell and Creswell, 2018). Meanwhile, subjective norms pertain to an individual’s perception of whether others would approve or disapprove of a particular behavior, which is an individual’s perspective of what most people of importance think of when they engage in the behavior (Abdul-Latif and Abdul-Talib, 2017). PBC refers to an individual’s belief about how easy or difficult it is to perform a specific behavior. This belief is influenced by the individual’s perception of the feasibility of performing the behavior, which in turn is shaped by their perceptions of the resources, opportunities, and skills needed to perform the behavior. This study examines the impact of entrepreneurial attitudes, SBN, and PBC on intention formation. The final construct of the TPB is subjective norms, which are the beliefs or expectations of a significant individual or group of people that guide and support a particular behavior (Osman et al., 2020). The intention referred to in this study is characterized as a cognitive state that directs an individual’s focus and actions towards self-employment. Specifically, this study sought to understand how these factors contribute to EI development of entrepreneurial intention (Bakar et al. 2014; Heuer and Kolvereid, 2014; Sekaran and Bougie, 2016; Ashari et al. 2018).

Entrepreneurial attitude and Sustainable entrepreneurial intentions

Entrepreneurial attitudes (EA) can be defined as an individual’s positive or negative assessment or appraisal of a specific behavior, which can influence their subsequent intentions. Their intentions were based on how people viewed behavior positively. In entrepreneurship, attitudes reflect the level of desire to become an entrepreneur (Krueger et al., 2000). entrepreneurship, the greater their intention to become entrepreneurs. The review study conducted by Lortie and Castogiovanni (2015) used the TPB framework to analyze entrepreneurial intentions. This supports the significant influence of attitudes on entrepreneurial intentions and establishing attitudes as a crucial predictor. Previous studies on university students have consistently highlighted the significance of attitude as the primary antecedent in predicting entrepreneurial intentions (Rosique-Blasco et al., 2018; St-Jean and Labelle, 2018; Munir et al., 2019; Phong et al., 2020; Shi et al., 2020; Ng and De Clercq, 2021). Prior research has found a positive correlation between university students’ attitudes towards sustainability-oriented entrepreneurship and their intentions to pursue sustainable business ventures (Vuorio et al., 2018; Fatoki, 2020; Thelken and de Jong, 2020; Agu, 2021; Yasir et al., 2021). This indicates that individuals with favorable attitudes towards businesses that promote ecological and societal goals are more likely to become sustainable entrepreneurs. However, there have been a few instances in which this relationship was insignificant, such as during the COVID-19 pandemic in Vietnam (Nguyen et al., 2021) and Indonesia (Arifiani et al., 2021). Furthermore, contextual factors such as educational, infrastructural, and relational support have been found to moderate this relationship, leading to significant adverse effects. Thus, we propose the following hypothesis:

Perceived behavioral control and Sustainable entrepreneurial intentions

Perceived behavioral control (PBC) is a crucial dimension of TPB. It refers to an individual’s perception of how easy or difficult it is to perform a particular behavior based on their previous experiences or anticipated barriers (Ajzen, 1991). In entrepreneurship, perceived behavioral control is the capacity to carry out the necessary behavior to establish a new firm, including the sense and perception of the controllability of the behavior (Liñán and Chen, 2009, p. 596). A review conducted by Lortie and Castogiovanni (2015) found that the majority of the articles analyzed (90%) supported the notion that there is a positive correlation between PBC and entrepreneurial intentions. Furthermore, research conducted on university students provides evidence of this relationship (Rosique-Blasco et al., 2018; Munir et al., 2019; Shi et al., 2020; Ng and De Clercq, 2021). Additionally, the literature on entrepreneurial intention emphasizes the importance of PBC as a key dimension of TPB when examining factors that influence SEI. It is worth noting that PBC is crucial for explaining the relationship between TPB and SEI (Fatoki, 2020; Thelken and de Jong, 2020; Yasir et al., 2021; Romero-Colmenares and Reyes-Rodríguez, 2022). In certain countries such as Nigeria (Agu, 2021), Liechtenstein, Austria, and Finland (Vuorio et al., 2018), the belief that one can improve a sustainable entrepreneurial venture may not significantly affect one’s intention to become an entrepreneur. Rather, the primary determinant of SEI is SBN, or perceived desirability, followed by EA. According to Vuorio et al. (2018), the importance of an individual’s perceived capability, skills, and entrepreneurial knowledge may not be as critical in sustainable entrepreneurship as in traditional entrepreneurship. Thus, the proposed hypotheses are as follows.

Subjective norms and Sustainable entrepreneurial intentions

Subjective norms (SBN) refer to the social factors that influence an individual’s perceived social pressure to engage in a particular behavior (Ajzen, 1991). In entrepreneurship, SBN represents an individual’s perception of how their decision to become an entrepreneur is viewed by significant others, such as family and friends (Liñán and Chen, 2009; Kautonen et al., 2015). Previous studies on entrepreneurial intentions have shown mixed results regarding the SBN dimension of PB, with some studies reporting inconsistent results (Lortie and Castogiovanni, 2015; Munir et al., 2019). However, research on SEI has shown that the opinions of individuals in close relationships are significant factors for university students (Tiwari et al., 2017; Agu, 2021; Yasir et al., 2021; Romero-Colmenares and Reyes-Rodríguez, 2022). In certain studies, SBN was identified as the most influential dimension of the TPB.

In contrast, studies conducted in South Africa (Fatoki, 2020), Indonesia (Prabowo and Sinaga, 2022), Germany, and the Netherlands (Thelken and de Jong, 2020) have shown that SBN is not a significant factor. This suggests that the opinions of close individuals or groups may not play a role in shaping the SEI of university students. Thelken and de Jong (2020) suggested that the limited exposure of the public to sustainable entrepreneurship situations and experiences may result in a lack of knowledge and awareness of sustainable entrepreneurship, which could explain the weak influence of SBN. Therefore, it is important to consider these cultural and contextual factors when examining the role of SBN in understanding the relationship between the TPB and SEI. Thus, we propose the following hypotheses:

Sustainable business values on Sustainable entrepreneurial intentions

According to Brundtland (1987), sustainability refers to the development of the present needs without compromising the ability of future generations to meet their needs. Although the implementation of the SDG 2030 plan has commenced, the UN report suggests that progress in many areas has not been made to achieve the 2030 targets. There is a growing urgency to address challenges, such as poverty, hunger, social inequality, ecosystem restoration, and sustainable cities and communities. Encouraging entrepreneurial activities can increase employment opportunities, foster economies, and achieve Sustainable Development Goals (SDGs) (United Nations, 2017). Ali (2018) argued that, while some countries have prioritized UN SDGs related to economic empowerment, peace, and justice, other goals are often overlooked. To ensure that all the SDGs are given equal importance, it is necessary to increase awareness of their significance and ensure transparency in their implementation. Bodhi et al. (2022) suggest that individuals’ sustainable business values are shaped by their attitudes, beliefs, and value systems, which play a critical role in determining their intention to engage in sustainable entrepreneurship. Debrah et al. (2021) proposed that sustainable behavior is rooted in an individual’s past experiences and learning, and their attitude towards sustainability is shaped by their level of connection with sustainable practices. Çop et al. (2020) defined sustainable values as individuals’ commitment to promoting sustainability, reflecting their preference for sustainable practices and dedication to achieving sustainability. Thus, we propose the following hypothesis:

University role on Sustainable entrepreneurial intentions

Universities’ entrepreneurship programs play a crucial role in shaping the attitudes, personalities, knowledge, inclination towards sustainability, critical thinking, and other fundamental qualities of aspiring entrepreneurs (Tiemann et al. 2018). Therefore, universities are responsible for broadening students’ perspectives on sustainability by educating them on the ecological and social issues that prevail in the community (Sun and Zhao, 2024). This knowledge will help students identify emerging entrepreneurial opportunities by assessing the risks and rewards of sustainable entrepreneurship (Shi et al., 2020). Therefore, students need to develop specific competencies and understand that sustainability is essential for analyzing and creating a business plan for sustainable entrepreneurship.

Educators should motivate students to engage in sustainable entrepreneurship, ensure that sustainability values are incorporated into all business operations, and integrate them into their training programs (Kummitha, 2020). To achieve this, there is a need to modify traditional education methods by altering strategies, teaching methodologies, and pedagogies and involving internal and external stakeholders to raise awareness and implement sustainable development goals. Internal stakeholders include university governing bodies, professors, administrative staff, students, and their families, whereas external stakeholders include society, government agencies, organizations, enterprises, and other higher education institutions (García-Feijoo et al., 2020). The implementation of experiential learning can significantly affect students’ entrepreneurial learning (Nayak et al., 2024). By involving all stakeholders, the education system can effectively incorporate sustainability values into its programs and provide students with the skills necessary to become sustainable entrepreneurs (Ferrer-Estévez and Chalmeta, 2021).

According to Purcell et al. (2019), in a comparative study of the students who enrolled in universities that provided comprehensive sustainable entrepreneurship programs, including collaborations with external stakeholders, especially international universities, were exposed to experiential learning (Hameed and Haq, 2020). These programs also offer access to entrepreneurial networks and examine government and international policies to enhance the quality of entrepreneurship curricula (Sun and Zhao, 2024). Consequently, these students had higher perceived desirability and feasibility attributes than those who studied in universities without such programs (Tehseen et al., 2021). Business schools can put forth the goals of sustainability through innovative pedagogical methods such as implementing sustainability goals on their campus, promoting gender equality and women empowerment by increasing the presence of female students in taking courses that males initially dominated (Miotto et al., 2020), introducing community service as part of the curriculum that alerts students to societal issues, providing scholarships for solutions to sustainable issues, paving the way to a plethora of world-changing ideas, encouraging research and learning by allying with fellow countries, collaboration among universities bringing revolution to a global stage, and universities, in addition to research and teaching, have to be collaborative world leaders in achieving SDGs (Goodall et al., 2019). Higher education institutions can effectively integrate business skills education for sustainability by developing programs that involve external stakeholders, such as enterprises, associations, public establishments, charitable institutions, and other universities (Hermann and Bossle, 2020). These programs should focus on providing practical training to students, fostering an entrepreneurial mindset, and encouraging them to develop solutions for sustainability issues. Hence, universities can play a crucial role in fostering entrepreneurial and sustainable student intention. Therefore, we propose the following hypothesis:

Figure 1. Conceptual framework of the study (Authors own contribution).

The demographics of the respondents

A total of 281 responses were received from the participants over three months, of which 47 were excluded from the analysis because they were inappropriate for analysis, yielding a response rate of 83.27%. Finally, 234 responses were found to be complete and used in the study. Of these, 41% were male (n=96) and 138 were female (n=138). Most respondents were undergraduates below the age of 25 years. The average age of the participants was 20.14 years, which is similar to the average age of university students in India. All the students who participated in the survey were from state of Karnataka, India’s Top Commerce and Management Institute and were in their last year of the program. Interestingly, 79% (n= 185) of the students were aware of sustainability and sustainable entrepreneurship ( Table 1).

Research instrument

This study used six principal constructs: Entrepreneurial Attitude, Perceived behavioral control, Subjective Norms, Sustainable Business Values, University Roles, and Sustainable Entrepreneurial intention. The Vuorio et al. (2018) scale was adopted and assessed with five items to measure EA, and the participants were asked to rate their attitudes towards entrepreneurial venturing. The Liñán and Chen (2009) scale was used to measure PBC using a five-point scale. SBN was measured using a four-item scale (Liñán and Chen, 2009) to obtain responses. Three items were used to measure sustainable business values among students (Wang et al., 2020). The university’s role in promoting sustainable education was assessed using multiple scales developed by Alvarez-Risco et al. (2021) with three items (Fatoki and Oni, 2014), and sustainable entrepreneurial intention uses a three-measure scale from the studies of Wegner et al. (2019).

Research design

The research design was exploratory, as it explored the influence of various attributes on sustainable entrepreneurial intention. This study used a survey method to obtain data on attitudes, social norms, self-efficacy, sustainable values, university roles, and sustainable entrepreneurial intention. The survey items were adapted from existing literature, as mentioned in the items of construct Table 2. The proposed research model was analyzed using the PLS-SEM method through the Smart-PLS software program (Smart PLS 4.0), which assists in connecting the interdependent variables and establishing a relationship to analyze the latent variables.

Sample and data collection

Data were obtained using a questionnaire with 5-point Likert scale, in addition to demographic characteristics. The sample consisted of students who obtained or were in the process of obtaining undergraduates. Furthermore, the age of the participants was restricted from 18 to 25 years to obtain a fairly recent overview of the quality of education or its influence on students. The sample age indicates that the study determined the students’ commitment to starting a venture during or after their studies. The average age of the respondents was 20.14 years. The participants were undergraduate students from various universities in and around Karnataka. In this quantitative study, data were collected using a questionnaire comprising 281 respondents, of which 234 were eligible for data analysis. Table 1 presents the demographic information of the respondents and Table 2 lists the constructs considered in the questionnaire.

Data analysis and results

The current study used partial least squares smart PLS version 4 software for data analysis and path modeling (Ringle et al., 2015). As this study aims to predict sustainable entrepreneurial intentions, we believe that PLS-SEM is an appropriate tool for data analysis. A confirmatory composite analysis is suitable when the study focuses on prediction. This study should be validated because PLS-SEM primarily concentrates on the relationship between forecasts and theory testing (Shmueli et al., 2016).

For many reasons, this study used PLS to analyze the paths and relationships. PLS-SEM handles measurement errors better and assesses the mediating relationships more accurately. Second, PLS path analysis works well in practice. This approach is suitable for complex research models and entrepreneurship. Third, the PLS-SEM approach allows researchers to formulate and test sophisticated conceptual models with flexible assumptions (Zaman et al., 2020). The benefits are that the assumptions regarding the non-normal distribution of the data are less strict, complex relationships between the constructs can be handled, and the key driver constructs for the outcome construct can be predicted accurately (Hair et al., 2012). However, the data collected in this study were not normal. PLS-SEM was used to determine the inner and outer dimensions of the model. The first step in this technique was to examine the measurement of inter-item reliability, convergent validity, and internal consistency. A structural model was used to test the hypotheses and predictability (Henseler et al., 2009). The first stage evaluated the measurement model for reliability, convergence, and divergence using confirmatory factor analysis (CFA). The average validity extracted value (AVE) of a variable is shown in Table 3, with a factor load of at least 0.50 and a composite reliability of the construct at 0.7, consistent with previous research (Hair et al., 2012). In the second stage, the structural model and hypotheses were tested after assessing the model’s goodness-of-fit index. The model’s overall fit was deemed acceptable as all index values fell within the acceptable range.

The threshold limits for these values were in accordance with standards established in various studies. This study referred to Hair et al. (2019) for the threshold limit. The reflective indicator loading must be ≥0.700 to ensure relevance to the study results. Therefore, an outer load that was less than the threshold was removed. The removed latent variables are PBC2=0.691, SV3=0.604, UR1=0.657, SN5=0.094, SN6=0.002 SN7=0.311, SN8=0.244, SN9=0.058. The Reliability and Validity of the latent variable were determined using Cronbach’s alpha (α), Composite Reliability (CR), and Average Variance Extracted (AVE) tests. The value of α≥0.70 (but a minimum of 0.6 is allowed in exploratory research). The values of CR ≥0.8 and AVE≥0.5. To ensure that the data are not compromised, the maximum value should be approximately 0.95. In the above table, the values of α, CR, and AVE were within the limits prescribed by the researchers. Therefore, the variables were reliable, and the internal consistency and reliability of the data were maintained. To ensure discriminant validity, we analyzed the correlations among all the configurations. Discriminant validity was confirmed by the calculated values for adjustments among constructs that were lower than the squared AVE cutoff value (Urban and Kujinga, 2017). This suggests that each construct was independent and suitable for conducting additional statistical tests. We evaluated the measurement scale’s validity using the average variance extraction (AVE) method, demonstrating that each component differed significantly and was unrelated to the others. The fact that each component differs significantly and is unrelated to the others suggests that the results are not skewed towards sustainable entrepreneurial intentions.

The Heterotrait-Monotrait Ratio

Despite this, the Fornell–Larcker criterion is one of the most powerful methods for assessing the discriminant validity. However, the FLC criterion cannot precisely measure discriminant validity in various research contexts. A recent study used the HTMT ratio to assess constructs’ discriminant validity (Henseler et al., 2015). Table 4 shows the results, which show that they meet the specified criterion of all values being less than 0.90 (Chin and Marcoulides, 1998). Thus, all variables studied in the context of higher education showed discriminant validity.

The Fornell–Larcker Criterion

The FLC criterion was used to assess discriminant validity. The AVE squared value for each variable was calculated and compared with the correlation values for other variables (Fornell and Larcker, 1981). After computing the AVE square root value, the diagonal correlation matrix must be greater than the squared correlation value (Hair et al., 2018). For discriminant validity, diagonal elements or coefficients must be larger than off-diagonal elements or coefficients. Table 4 shows that all square roots of AVE for the constructs were greater than the off-diagonal elements or coefficients in the relative columns and rows, indicating discriminant validity.

Theoretical implications

The research findings significantly contribute to the literature on sustainable entrepreneurship education and the Theory of planned behavior. Numerous studies have examined the role of sustainable entrepreneurship education in new venture creation (Ahmed et al., 2020; Cassol et al., 2022), students’ intentions to start a business (Badri and Hachicha, 2019; Otache et al., 2022), the entrepreneurial mindset of college students (Bell and Cui, 2023), the intentions of engineering students (Kim and Park, 2019), business students (Adu et al., 2020; Jena, 2020), and human capital (Passaro et al., 2018). However, scant attention has been given to studying its effect on the Theory of planned behavior and sustainable values and the university’s role in the emerging economies of South Asia. This study makes four main contributions to this Theory.

Begin contributes to the literature by investigating an understudied extension of the Theory of planned behavior with its underlying association with sustainable entrepreneurial intentions. This study extends previous research’s Theory of planned relationships by proposing additional variables of sustainable business values and university roles and as an alternative mechanism for improving EI in the context of HEIs

In Addition, considerable research has been conducted on various factors that influence higher education students’ sustainable entrepreneurial intention (SEI). These factors include age, gender, role models, sociocultural influences, and self-efficacy (Anwar et al., 2021; Chhabra et al., 2021). However, there is a lack of studies specifically investigating the independent impact of sustainable business values and university roles and development on the Theory of planned behavior (Ajzen, 1991). This research addresses this gap in the literature by exploring the connection between behavioral variables and the individual effects of sustainable business values and university roles in the context of higher education institutions (HEIs). The findings highlight that behavioral variables significantly enhance the SEI of students in higher education.

Moreover, this study examines the personal effects of sustainable business values and university roles within the Theory of planned behavior framework to elucidate the role of behavioral factors in influencing SEI. Previous research has demonstrated that when behavioral factors align with the inspiration provided through entrepreneurship education, students are more inclined to initiate business ventures (Adekiya and Ibrahim, 2016; Alami and El Idrissi, 2022).

Furthermore, this study makes a significant contribution to the field of sustainable entrepreneurship education and sustainable entrepreneurial intention (SEI) by offering valuable insights into the impact of behavioral factors on EI development among students in higher education institutions (HEIs). Recognizing the crucial role played by behavioral factors, university roles, and sustainable business values in shaping EI, this study proposes practical recommendations for integrating entrepreneurial projects into the curriculum. These projects may include activities, such as creating business plans, conducting market analyses, and fostering idea generation (Yousaf et al., 2021). Additionally, this study suggests the involvement of role models or motivational speakers, who can share their personal experiences to inspire and guide potential entrepreneurs.

This study contributes to the field of entrepreneurial education, particularly in emerging economies. While previous research has primarily focused on developed nations, there remains a need for further studies examining the unique circumstances of emerging countries such as India (Singh and Mehdi, 2022). The evidence obtained from studies conducted in emerging economies may not apply directly to universities in developed countries, thus emphasizing the importance of conducting research tailored to specific contexts. By addressing this gap, this study fills a void in the literature and provides insights relevant to universities that operate in developing economies.

Practical implications

This study has implications for addressing the issue of unemployment among higher-education students. First, higher education institutions should implement entrepreneurship courses that focus on sustainable business and experiential learning programs to enhance students’ intentions (EI). These initiatives include student-driven clubs, business competitions, business proposal development, webinars, seminars, corporate consultancy, and networking events (Jones et al., 2012; Shabbir, 2021). Students can develop a keen interest in entrepreneurship by engaging in such activities. The cultivation of EI among higher education students not only alleviates the burden on industries and the government to create employment opportunities for educated youth but also encourages them to consider self-employment or entrepreneurship as a viable career path. Educational institutions can empower students to create employment opportunities and contribute to economic growth by promoting entrepreneurial engagement.

Entrepreneurial intention has the potential to create a positive social impact by inspiring individuals to establish businesses that address societal and environmental challenges. Pursuing entrepreneurial goals can empower individuals to achieve self-sufficiency and financial stability through ventures. Moreover, effective entrepreneurship education and training can facilitate the transition of graduates from job seekers to job creators, contributing significantly to long-term socioeconomic development at the national level.

This study suggests that university administrations should implement policies focused on delivering entrepreneurial programs based on a competency-based framework. Such initiatives would increase students’ entrepreneurial intentions and foster new venture establishments (Ashraf 2019; Li et al., 2020; Sherkat and Chenari, 2020). Recognizing that entrepreneurship is a primary driver of economic development in a nation (Arshad et al., 2019), these policies would play a vital role in nurturing entrepreneurial ecosystems and fostering economic growth.

Third, the relevance of EE cannot be overstated, considering the uncertainties brought about by the COVID-19 crisis; the relevance of entrepreneurship education (EE) cannot be underestimated (Jones et al., 2021). This study highlights (Nayak et al., 2024) how crucial the pre-university phase is in determining students’ goals since it has a significant impact on their future endeavors. It recommends exposing students to basic entrepreneurial concepts before enrollment in Higher Education. EE equips entrepreneurs with the skills and resilience to navigate the business landscape during times of crises. Making EE more accessible to a broader range of individuals can contribute to addressing social challenges arising from the pandemic.

In summary, state policymakers should prioritize sustainable entrepreneurship education in universities, incorporate open innovation dynamics, raise awareness of limited job opportunities, and promote self-employment. Recognizing the Importance of EE. In times of crisis, efforts should be made to expand the reach and address the challenges posed by the COVID-19 pandemic.

To promote entrepreneurship, policymakers should ensure that universities incorporate entrepreneurship education into their curricula, including teaching the cyclical dynamics of open innovation (Dzisi et al., 2018). It is crucial to design entrepreneurship education and training that raises awareness about limited employment opportunities and the importance of self-employment (Yun et al., 2018). Furthermore, considering the COVID-19 crisis and its impact on the job market, the significance of entrepreneurship education and training cannot be overstated (Jones et al., 2021). It equips entrepreneurs with the skills required to navigate the business environment during a crisis. Widening access to entrepreneurship education and training can contribute to addressing social issues resulting from the pandemic.

Entrepreneurial aspirations have the potential to stimulate entrepreneurship within underrepresented groups including women, minorities, and low-income individuals. This can effectively reduce income disparity and enhance social inclusion. By providing entrepreneurial training, we can encourage the emergence of new businesses that introduce innovative concepts, products, and services to the market, thus benefiting the economy and society. To maximize the effectiveness of entrepreneurial education, collaboration among stakeholders is essential to promote a positive socioeconomic environment, leading to long-term economic stability and minimizing crises. Furthermore, the government must increase investments in entrepreneurial training and implement practical interventions during crises to foster more entrepreneurs who can generate additional employment opportunities. This approach has the potential to enhance the competitiveness of the country’s education sector and contribute to the nation’s overall growth and development (Brown et al., 2020).

Limitations and scope for future research

This study has several limitations. First, it is confined to the scope of the Theory of planned behavior, restricting the examination of broader environmental and external factors. Additionally, this study focused on quantitative analysis for predicting SEI. A mixed-method approach or qualitative analysis could provide additional insights for predicting SEI. This study is concerned with the generalizability of the findings from a sample of higher education students drawn from one province in one country. Therefore, the application of the same model to students from different provinces or nationalities remains unexplored. Future research could consider longitudinal studies to gain insights into the motivating factors of students’ entrepreneurial aspirations.