This paper presents an empirical investigation on psychological characteristics of entrepreneurs in one of Iranian universities located in city of Zanjan, Iran. The proposed study of this paper uses a standard questionnaire in Likert scale and concentrates on three components of locus of control, risk taking and tolerance of ambiguity. The study chooses a sample of 350 out of 11,000 students who were enrolled in various areas and detected that students maintained higher level of risk taking (t-student = 10.999, P-value = 0.000), higher level of locus of control (t-student = 29.708, P-value = 0.000) and lower level of tolerance of ambiguity (t-student = -13.584, P-value = 0.000).