This article mainly introduces the research on the teaching system of entrepreneurship education for college students under the background of the Internet of Things. On the basis of extensive investigation and analysis, this article combines the reality of entrepreneurship education in our country’s universities to study how to construct an entrepreneurial education system. This paper designs the social support guarantee and specific implementation plan for corporate education by constructing the corporate goal system, curriculum system, practical curriculum system, training team, and other systems, defines the relevant concepts of the innovation and entrepreneurship education system, and analyzes the related concepts of innovation and entrepreneurship education. Theories provide a theoretical basis for constructing college students’ innovation and entrepreneurship education system. Based on the analysis and construction of the innovation and entrepreneurship education system for college students in our country, the necessity and feasibility of the innovation and entrepreneurship education system for college students are further elaborated. The experimental results of this paper show that after the theoretical viewpoints and operational content of the EE system are put forward, the entrepreneurial enthusiasm of college students has increased by 15%, the learning ability has been significantly improved, and it has also fully demonstrated the teaching effect of the entrepreneurial education teaching system for college students under the background of the Internet of Things. In addition, their understanding of EE and teaching has also improved significantly. This structure provides an important reference for further research and practice of undergraduate EE.