This paper is based on a sample study of students in Wuhan W University which describes the basic situation of high-level academic competitions on the cultivation of innovative and entrepreneurial talents in the university. It also analyzes the influence of high-level academic competitions on the cultivation of innovative and entrepreneurial talents and the internal connection among the dimensions in the evaluation system of innovative and entrepreneurial talents through structural equation modeling. The entropy power method was used to analyze the degree of emphasis and concern on the cultivation of innovative and entrepreneurial talents in different dimensions of high-level academic competitions, and to reveal the influence of high-level academic competitions on the cultivation of innovative and entrepreneurial skills, to provide a theoretical basis for the construction of competition-oriented innovative and entrepreneurial talents cultivation system.