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The essence of Chinese entrepreneurship education is to build an “upgraded” version of higher education that can enable China’s modernization through innovations and the sustainable development of the planet, in order to comprehensively and scientifically measure the magnitude of the effectiveness of entrepreneurship education for training the innovative talent, investigate the influencing factors of efficiency, and uncover the existing problems. This study was based on The Entrepreneurship Competence Framework (EntreComp), conducting quantitative research on 606 typical students from 211 undergraduate universities in China who achieved recognition for entrepreneurship achievements at the provincial level or above. This study found that entrepreneurship education has a significant effect on students’ innovation and entrepreneurship literacy, and in descending order of effectiveness, it improves 15 literacies, such as initiative; these are categorized into three domains: innovative action, innovative resources, and innovative thinking. Meanwhile, the more in-depth the entrepreneurship education reform, the more significant the efficiency. Second, there are significant differences in efficacy against the background of different durations of participation, score rankings, and numbers of achievements. There are no significant differences in efficacy between different disciplines and educational backgrounds. Third, the experience of the project leader has a significantly positive effect on efficiency. The current lack of innovative team building is the main factor affecting the effectiveness of innovative talent training in China.
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