Entrepreneurship is often regarded as an opportunity for productivity increase and wealth generation, especially if the new firm is technology-based. Therefore, the research of factors that may determine young engineers’ positive attitude towards entrepreneurship is of great interest. The main purpose of this study is to verify the influence of close family and cultural values on the entrepreneurial intention of technical degrees’ students. Data from 1136 students in three different technical universities across Europe (Universidad Politécnica de Madrid, Politecnico di Bari and Technische Universität Berlin) were analysed. A survey explored their entrepreneurial intention and their perception of the support provided by their closer environment in case they decided to found a company. Other items explored the parents’ occupation (father and mother separately), as it is believed to be relevant for the success of entrepreneurial knowledge and attitude transfer from one generation to the next. Finally, cultural values based on Hofstede’s studies (1980; 1991) were also explored and their relation with entrepreneurship was analyzed. In Mediterranean cultures family ties are relatively strong, at least when compared with North European countries and North American societies (Reher, 1998). The traditionally existing family ties in collectivistic cultures may affect the mediating role model effect over entrepreneurial intention, while it may be the other way round in individualistic cultures. Therefore, in this research the influence of the family background on the entrepreneurial intention with the mediation of cultural values is addressed in three different countries: Spain, Italy and Germany. As the closer environment and the prevailing cultural values may foster (or hinder) entrepreneurial intention, it is relevant to know the extent of such influence. This is especially important for potential entrepreneurs in a technology-based field as the founding of technology-based companies is one of the best ways to increase productivity and wealth generation (Acs and Szerb, 2007). Therefore, technical universities play a key role on economic development as a technology transfer vehicle to society. For this reason, it is crucial to assess to what extent parents’ knowledge transfer can affect the entrepreneurial intention of technical degrees’ students.