The paper brings to the fore the need for developing entrepreneurial competences in school students. It describes the concept of entrepreneurial competence as an ability to put forward original ideas and innovate along with communication, organisation, project management, action planning, and risk-taking competences, receptivity, and also knowledge and skills required for starting a new business and implementing practical ideas to proceed successfully. The case is made for developing courses in entrepreneurship and the criteria of efficiency are determined as follows: clearly set objectives, balanced theoretical and practical content, focus on learning by doing, voluntary approach and motivation, social partnership involving businessmen, financial institutions, and municipal government bodies, openness of the educational environment, availability of training for teachers and contacts with businessmen, and opportunity to present the outcomes. A description is provided of the model and algorithm of creating a school business incubator using the resources of social partnership with businessmen, financial institutions, and municipal governance bodies. The outcomes in entrepreneurship education in the context of a business incubator include the defence of a business project under the supervision of a mentor conducted in a competitive form in two stages, namely, the defence of the business idea and the project itself. Various procedures are used to assess business incubator performance, such as questionnaires for students, teachers, and mentors and expert assessment of students' entrepreneurial competence acquisition levels by teachers and mentors.