As the pace of national modernisation accelerates, the society urgently needs talents with entrepreneurial qualities and innovative spirit. Therefore, colleges and universities need to vigorously cultivate the entrepreneurial quality and innovative spirit of college students. We believe that the quality evaluation index system for implementing innovation and entrepreneurship education should be constructed from the perspectives of university students, colleges and universities and the external environment. The article constructs a structural equation model (SEM) with seven hidden variables and 23 observed variables. By revising the hypothetical model, it is concluded that the total effect of cultivating innovative and entrepreneurial talents is 0.48. Therefore, we believe that the current development of postgraduate innovation and entrepreneurship education is still very unsatisfactory. The entrepreneurial situation of students has not attracted the attention of colleges and universities. The allocation of resources, full-time teachers and the curriculum system need to be further improved.