Using an embeddedness perspective, a model and hypotheses are developed concerning the impact of the university entrepreneurial context on student start-up activity. Results based on analysis of the GUESSS database from 25 countries demonstrate that students’ involvement in entrepreneurship-related curricular programs and co-curricular activities at university is positively related, and financial support from university is negatively related, to start-up activities undertaken by students. Prior business experience moderates the relationships between student involvement in university initiatives and start-up activities. The negative relationship between financial support and start-up activities is positively moderated by business experience. Implications and directions for future research are discussed.