Adopting a social cognitive theory perspective, this article examines the factors that influence entrepreneurial intentions through the interaction between cognitive factors and perceived environmental munificence. Specifically, it introduces and demonstrates that the effect of one’s perceived ability to become an entrepreneur on the intention to engage in such a behaviour is contingent upon the perception of an environment rich in entrepreneurial munificence, in this case, within an incubator setting. Perceived entrepreneurial munificence also helps strengthen the relationship between risk-taking propensity and entrepreneurial self-efficacy. Results and implications for future research on entrepreneurial intentions at the interface between cognitive and environmental factors are discussed.