This paper examines the effect of curricular and extracurricular activities on the entrepreneurial motivation and competences of university students. In order to address these issues, the authors have used Ajzen's model of planned behaviour, including curricular and extracurricular activities, analysing their effect on university students' attitude and behavioural control and their entrepreneurial intention as well as competences. Using a convenience sample of university students, we chose two Spanish institutions, with a total sample size of 1475 students. The analysis demonstrates the effects of curricular and extracurricular activities on the entrepreneurial intention of university students. Such activities generate positive attitudes for entrepreneurship but at the same time they lower capacity and intention to start a business. Similarly, the study shows the different effects of such variables on the competencies for entrepreneurship. Strategic and methodological implications of these results are discussed.