Entrepreneurship education with a focus on sustainable development primarily teaches students to develop a profit-driven mentality. As sustainable development is a value-oriented and normative concept, the role of individual ethical norms and values in entrepreneurial processes has been receiving increased attention. Therefore, this study addresses the role of moral competence in the process of idea generation for sustainable development. A mixed method design was developed in which would-be entrepreneurs were subjected to a questionnaire (n = 398) and to real-life decision-making processes in a case assignment (n = 96). The results provide stepping stones for implementing (moral) competencies in entrepreneurship education as a possible avenue to move away from a sole focus on a profit-driven mentality.