Abstract: The innovation and entrepreneurship education reform in colleges and universities is a powerful measure to drive the implementation of national innovation strategy and promote the high-quality development of local economy. Based on the theory of value co-creation, this paper analyzes the current situation of private universities in building college students' innovation and entrepreneurship practice platform, and puts forward countermeasures to optimize college students' innovation and entrepreneurship practice platform from three aspects: building a mass entrepreneurship and innovation market chain, establishing a mass entrepreneurship and innovation manager system, and building a mass entrepreneurship and innovation circle of friends, so as to achieve capacity co-creation, subject co-creation, resource co-creation, knowledge co-creation, and project co-creation, and improve the success rate of entrepreneurship.

Key words: Value co-creation, Innovation and entrepreneurship platform, Private college, Subject co-creation, Knowledge co-creation, Project co-creation