This article explores links between entrepreneurship education (EE) participation, alertness and risk-taking skills and the intensity of entrepreneurial intention relating to becoming an entrepreneur. Guided by insights from human capital and socially learned stereotypes theories, we conceptualize and test novel hypotheses that consider the potential moderating effect of gender and participation in EE. Business students participating in EE modules were compared with engineering students excluded from such programmes. Hierarchical regression analysis revealed that EE students reported high intensity of intention; however, EE did not generate equal benefits for all students. Women were significantly less likely to report high intensity of intention; however, those citing the alertness skill were more likely to report high intensity of intention than non-EE women students. Both male EE and non-EE students citing the risk perception skill reported higher intention, whereas women EE students citing the risk perception skill reported lower intention.