With the development of the times, traditional innovation and entrepreneurship education exist in the backwardness of education concept and learning concept. This paper proposes a model for entrepreneurship innovation that incorporates multi-source data fusion technology. From both online and offline sources, we obtain multi-source data about the education and teaching methods of the entrepreneurship innovation education concept in higher vocational colleges and universities. In the process of multi-source data fusion, data is preprocessed to improve its quality and efficiency during data fusion. Using the least squares method to complete the multi-source data fusion operation, combined with the concept of entrepreneurship innovation education, co-designed a data fusion-driven innovative entrepreneurship education teaching model that integrates interactive and targeted teaching methods. The model underwent validation and analysis. The data show that after some time of adopting the targeted teaching method to teach students innovative and entrepreneurial concepts, the difference between the mean value of the level of creative and entrepreneurial concepts of the students in the experimental group mean value (43.79) and the control group mean value (43.79) is 4.55. The sig value is 0.019<0.05. Compared with traditional didactic teaching, the targeted teaching mode based on the multi-source data fusion technology is more helps to improve the level of innovation and entrepreneurship concepts of students in higher vocational colleges and universities.