Entrepreneurial intention models are widely accepted in university contexts in developed countries; however, more robust studies in emerging economies are needed. With the aim of filling this gap, this work analyzes the influence of subjective norms, behavioral beliefs, attitudes, and entrepreneurial behavior on the entrepreneurial intention of college students. Structural equation modeling was implemented by means of a self-administered questionnaire that was answered by 636 undergraduate engineering students in Medellín, Colombia. According to the findings, both attitude and entrepreneurial behavior have a positive effect on entrepreneurial intention. Nevertheless, no evidence was found to confirm that subjective norms affected entrepreneurial intention, i.e., that other people’s opinions were important to individuals when they decided to start a new venture. By investigating the entrepreneurial intention of college students, better strategies can be adopted to promote venture creation among this population group, focusing efforts on the variables that presented the strongest relationships in the model proposed in this study.