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This paper takes a psychological approach to entrepreneurial intention. The study identifies different variables influencing individual behaviors and their entrepreneurial objectives, and was conducted on a sample of 235 students in various courses at universities in Spain. Structural equation modeling (SEM) was used to examine the relationships between the variables. Our results show that the identification of opportunities is essential for the development of a clear entrepreneurial intention. Explicit knowledge is necessary to identify opportunities, and tacit knowledge has a direct influence on the clear intention to act.