This paper first analyzes the innovation and entrepreneurial ability demands and development influencing factors of university students in economics and management and proposes the “one body and four wings” cultivation model of innovation and entrepreneurship based on this model. Secondly, the evaluation system of innovation and entrepreneurship education indexes in colleges and universities is constructed according to this model, and the similarity degree is calculated using K-means clustering, and the Kruskal algorithm optimizes the K value. Finally, the quantitative data analysis was carried out by examining the index weights and index evaluation. The results showed that the evaluation scores of innovation and entrepreneurship education objectives increased by 35.51%, 40.31%, 19.01% and 26.40%, respectively, compared with other indicators, indicating that the use of the “one body and four wings” cultivation mode can promote the development of innovation and entrepreneurship education.