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In this article, we study the determinants of corporate entrepreneurial intention (CEI) within small and newly established firms. Given that in these ventures, entrepreneurial activities usually occur as a result of individuals’ behaviors, the CEI of their founders is key to explaining these companies’ ability to become engaged in entrepreneurial actions. Building on the theory of planned behavior, we conceptualize how individual characteristics and contextual variables influence CEI. Our theoretical model of the micro–foundation of CEI is tested on a sample of 200 entrepreneurs, founders of 133 new technology–based firms. Results show that CEI is influenced by situationally specific motivation, individual skills, and perceived environmental dynamism. Managerial implications are discussed.