The effect of access to financial capital on start-ups is mostly studied in the context of economic theories which suggest that limited access to capital is an entry barrier for new ventures. We argue that economic theories are not sufficient to explain the effect of access to capital on start-ups. Economic theories must be supplemented with psychological theories. We hypothesize that individual characteristics of the entrepreneur and financial capital interact. Entrepreneurs can compensate for the negative effect of limited access to capital on entrepreneurship through a psychological intervention enhancing entrepreneurial cognitive frameworks.