This study pioneers examining the relationships between psychological factors, cognitive processes and entrepreneurial mindset to enhance an understanding of the underlying mechanisms contributing to successful entrepreneurship.

Amos software applied a quantitative approach to analyze the fit indices for the hypothesized model, while SPSS conducted descriptive and factor analysis. Eventually, the primary survey technique was performed with quantitative research, collecting 413 numerical data through a structured, closed-ended Likert scale questionnaire delivered to the target respondents.

Results have shown that data analysis verifies the positive relationships between psychological factors and the entrepreneurial mindset (hypothesis H1) and cognitive processes and the entrepreneurial mindset (hypothesis H2). These findings contribute to understanding the mechanisms underpinning the entrepreneurial mindset and have implications for entrepreneurship development and support initiatives. The study findings also underscore the importance of understanding the covariance between psychology and cognition in the context of the entrepreneurial mindset – a complex and engaging aspect of the research that is crucial for a comprehensive understanding of entrepreneurship.

It is important to note that the measuring tools used to evaluate these characteristics may have issues with common technique biases, self-report biases or limitations in fully reflecting their complexity. Awareness of these potential challenges is crucial for future research in this area.

This study's findings have significant practical implications for entrepreneurship training, education and policy-making initiatives. Their practicality will equip the reader with the necessary knowledge to succeed in entrepreneurship.