Drawing on the entrepreneurial event model, we examined the role of perceived desirability and perceived feasibility and their interaction in university scholars' entrepreneurial intentions, with data from 252 Chinese academic entrepreneurs. Results showed that perceived feasibility only had a significant effect on scholars' entrepreneurial intentions formation. Further, the moderating effect of external environmental support brought about an interactive mechanism between perceived desirability and perceived feasibility: When perceived desirability was low, perceived feasibility played a more significant role in entrepreneurial intentions formation, and vice versa. Theoretical contributions and practical implications are discussed.