The development of college students’ entrepreneurship in the context of the Internet and the current situation of social development are inextricably linked. The TF-IDF algorithm and literature combined to extract the influencing factors for college students’ innovation and entrepreneurship program development from four dimensions. The combination of the DEMATEL method and ISM method is used to quantitatively analyze the overall role relationship and the recursive hierarchical structure of the system elements and then identify the key elements affecting the development of college students’ innovation and entrepreneurship programs. Then, the qualitative comparative analysis method is used to summarize the common characteristics and combinations of conditions that lead to success in college students’ dual entrepreneurship projects driven by Internet technology in multiple cases. The results show that four factors at the school level occupy 3/5 of the explanatory position of the centrality degree, three factors at the national level are important outcome factors, and innovation and entrepreneurship team cultivation are the fundamental factors. There are a total of five paths, namely, environment-influenced (A1), experience-supported (A2), ideal-driven (B1), multiple-assisted (B2), and demand-oriented (B3), which contribute to the success of promoting college students’ innovative entrepreneurship programs under the Internet technology.