Globalization and advancements in science and technology foster innovation and entrepreneurship. Although national strategies provide substantial support, innovation, and entrepreneurship incubators in private colleges and universities face challenges such as insufficient funding and a lack of talent. This study enhances the theoretical framework of innovation and entrepreneurship education and broadens the application of business model theory. It examines the current state of innovation and entrepreneurship incubators in private universities, using the Maker Dream Workshop at Guangzhou University of Science and Technology as a case study. Key aspects such as value proposition, resource allocation, and profit models are analyzed. Additionally, challenges in multi-factor collaboration, including internal synergy barriers and external coordination difficulties, are identified. Optimization strategies are proposed, such as establishing an information-sharing platform, optimizing resource allocation mechanisms, improving benefit distribution systems, developing a long-term mechanism for industry-university-research cooperation, strengthening communication with the government, and encouraging participation from investment institutions. Furthermore, the study outlines the strategic measures required to ensure the sustainable development of innovation and entrepreneurship incubators in private colleges and universities.