There are many influencing factors in the entrepreneurial process, which lead to a variety of unknown situations in the entrepreneurial process and affect the entrepreneurial process. In order to improve the effect of entrepreneurial analysis, this paper improves the traditional machine learning algorithm and proposes an entrepreneurial dynamic model based on improved machine learning. Aimed at the opportunistic behavior of the following venture capital institution under joint investment, this paper constructs an evolutionary game model between the leading venture capital institution and the following venture capital institution under joint investment and constructs an industrial cluster knowledge fusion and entrepreneurial innovation model. Moreover, this paper confirms through the structural equation model that the use of information fusion technology can improve the effectiveness and comprehensiveness of internal and external knowledge of industrial clusters. In addition, this paper uses experimental analysis methods to evaluate the performance of the entrepreneurial dynamic model constructed in this paper. From the research results, it can be seen that the system constructed in this paper has a certain effect.