Finding a way out for new business creation has been a global issue, and the Indonesian government has responded to this issue by promoting entrepreneurship programs for students. For this matter, understanding the role of the entrepreneurial ecosystem can be used to design and promote business for university students. This study employed structural equation modeling with partial least squares to raise understanding among variables. This study involved an entrepreneurial ecosystem to explain the intention of Indonesian university students to do business. The findings indicate that the entrepreneurial ecosystem robustly links with students' entrepreneurial intention and new business creation. This study confirms that access to finance, government programs, support, access to physical infrastructure factors, education, and training factors are crucial for determining Indonesian university students' business. The theoretical and practical implications were provided in this research.