In this paper, we apply the theory of planned behavior (TPB) to examine entrepreneurial intentions among university students in Iran, a developing nation in which extensive governmental efforts to promote entrepreneurship have taken place over the last decade. We incorporate culturally driven social valuation of entrepreneurship into our model thus extending the theory. Findings show the entrepreneurial intentions among agriculture students in Iran to be quite limited. Results underline the importance of social valuation in shaping entrepreneurial intentions and support the applicability of the TPB in Iran—a factor driven economy. Practical implications for public policy and education are discussed.
