This study adopts the Theory of Planned Behavior (TPB) framework to examine the effect of the government-initiated Entrepreneurship Student Program (ESP) on the entrepreneurial intentions and behavior of students. In addition, the research also examines the market information adequacy and standard psychological components of TPB, namely attitude, subjective norms, and perceived behavioral control as predictor variables. Data are collected from 208 university students in Semarang, Indonesia, with the Partial Least Squares - Structural Equation Modeling (PLS-SEM) technique employed for analysis. The result shows that ESP and the adequacy of market information directly influence the entrepreneurial behavior of Indonesian students, while the influence of attitudes and perceived behavior control is mediated by entrepreneurial intention. In conclusion, this study implies that ESP can be considered effective in preparing and facilitating entrepreneurship among university students, therefore the government needs to consider increasing its availability to cover a larger number of universities in Indonesia.