This study aimed to investigate the effects of entrepreneurial and University environment characteristics in the Entrepreneurial Intention of the undergraduate student. A model that seeks to complement the literature of the field of entrepreneurship was developed and validated. The methodology employed was quantitative and the data were analyzed by Structural Equation Models with the technique of Partial Least Squares (PLS-SEM). The sample consisted of 287 students in the final year of the Engineering and Business undergraduate courses at the State University of Campinas (UNICAMP). Results indicate that the Entrepreneurial Intention of students is influenced by the University environment and the attitude towards Risk-taking and Self-efficacy. The Self-efficacy, in turn, is influenced by student characteristics regarding Planning, Leadership and Innovation. The research collaborates with complementary reflections to studies on entrepreneurship held in Brazil, showing a model for evaluation of entrepreneurial characteristics of students and of the entrepreneurial context in educational institutions. The results may serve as a support to improve higher education institutions (HEIs) in the context of teaching, research and outreach, aiming at the entrepreneurship.