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Entrepreneurial intention is one of the main predictors of venture creation. However, the approaches used to analyze the entrepreneurial intention and venture creation are mostly linear approaches, leaving aside the fact that new ventures arise in a context characterized by fluctuations and instability, especially in emerging economies where economic and social factors are highly variables. Nevertheless, a dynamic approach could best represent its behavior. This study aims to propose an alternative approach and a starting point for more complex dynamic models in the entrepreneurship process that surpass the limitation of the current linear methodologies and allow gathering isolated studies' contributions.

This study proposes a method to shed light on the processes related to the venture creation process and entrepreneurial intention by designing a system dynamics simulation model.

The results reveal that the delayed effect of expectations produces a growing tendency in project creation, venture establishment and venture creation. Likewise, the entrepreneurial intention is not a static variable; it changes by the system’s dynamics and disturbs the venture creation process, which produces an increase in oscillations in the model and, therefore, reduces the project’s growth and venture creation.

This model is a generic approach for the study of venture creation and entrepreneurial intention. The model can analyze entrepreneurial intention and venture creation in different contexts, adjusting the different model parameters. The authors run a sensitivity analysis to encompass deviation from the parameter established and the uncertainty about them. However, the empirical data used for the model’s testing, in this case, correspond to an approximation to the behavior of venture creation in Colombia, which is considered an emerging economy. The model proposed does not pretend to incorporate all the variables and phenomena about entrepreneurship.

The approach suggested in this work aims to conceptualize venture creation as a complex process that emerges from the occurrence and combination of simpler states, instead of activities that represent building blocks. In addition, the term “entrepreneurial process” is defined as a composite of different perspectives that use a series of multidisciplinary theories to address the topic.

The purpose of this study is to verify some relationships between entrepreneurial attitude, university environment, entrepreneurial culture and entrepreneurial training, which can be used to promote entrepreneurship among university students.

A sample of 3,005 questionnaires answered by students from ten universities in Colombia was gathered and partial least squares structural equation modelling (PLS-SEM) was used for the analysis.

The results show that the more a student perceives an entrepreneurial culture and the more training he or she receives, the more entrepreneurial attitude he or she will have. Also, it was found that entrepreneurial culture has a positive effect on university environment, and the latter has a positive effect on entrepreneurial training.

The main limitation of this study was that only ten Colombian universities were sampled; therefore, general inferences cannot be made. Additionally, the variables investigated here may have not accurately measured the full scale of the entrepreneurship programmes in such universities or the way the culture of these institutions had a direct impact on students. Projects such as the Global University Entrepreneurial Spirit Students' Survey (GUESSS), which measure variables related to entrepreneurship at the university level, enable universities to shape their policies around this important topic. This study indicates that universities should offer training in entrepreneurial, problem-solving and communication skills to produce entrepreneurs who can better face current challenges.

Other studies have discussed entrepreneurial culture, but they usually deal with university environment, entrepreneurial training and entrepreneurial attitudes separately. This study integrates all these factors and measures the level of interaction between them.