The transformation of enterprise innovation models is not only an important means to break through the constraints of traditional innovation and cultivate the core competitiveness of enterprises, but also a strategic measure to build an innovation consortium, promote the deep integration of scientific and technological innovation and industrial innovation, and release the innovation momentum of the industrial chain. Based on the samples of A-share listed companies in China from 2012 to 2023, this paper systematically examines the impact of entrepreneurial spirit on the transformation of enterprise innovation models, as well as its mechanism, application scenarios and ultimate economic consequences. The research reveals that the entrepreneurial spirit first achieves internal empowerment through a cooperative culture, then transforms cognition into outward-released reputation signals to attract external cooperation partners, and finally ensures the implementation of collaborative innovation through standardized cooperative governance, achieving a step-by-step progression from “internalization in the heart” to “externalization in action”, thereby driving the transformation of the enterprise’s innovation model.Heterogeneity analysis shows that when enterprises have stronger dynamic capabilities, belong to strategic emerging industries, and the legal environment of the region is more perfect, the driving effect of entrepreneurial spirit on the transformation of enterprise innovation models is more significant. Economic consequence tests reveal that after driving the transformation of enterprise innovation models by entrepreneurial spirit, it will further help enterprises achieve breakthroughs in key core technologies. This research not only provides a new theoretical perspective for empowering high-quality development of enterprises, achieving value chain leapfrogging and building a new development pattern, but also provides micro evidence and practical references for cultivating and promoting excellent entrepreneurial spirit and constructing an open innovation ecological pattern.