Abstract: Tool value of Inquiry-based Teaching is not only the knowledge imparting and self-learning ability training firstly, but also the cultivation of College Students' logical thinking ability and practical ability with understanding the various logical relationships hidden behind knowledge points through cumulatively participating in the knowledge exploration process. Self-learning ability, logical thinking ability and practical ability is the target of innovation and entrepreneurial ability. This paper tries to take the Inquiry-based Teaching into the innovation and entrepreneurship education, and analyzes the basic ideas running through the every aspect of innovation and entrepreneurship education, including curriculum teaching, internship training and entrepreneurship incubation, so as to achieve the educational and teaching objectives on the college student’s entrepreneurial ability.

Key words: Inquiry-based teaching, Tool value, Logical thinking ability, Innovative and entrepreneurial ability