Based on the understanding and grasping of the scientific connotation of the new development pattern of “dual circulation”，this paper re-examines the main problems existing in innovation and entrepreneurship in Henan Province according to the new requirements of the new development pattern，including that scientific and technological innovation remains a weak link，supply and demand matching imbalance blocks the circulation，and the ability to integrate innovative resources is weak. In view of these problems，we should take deepening the reform of the institutional mechanism of innovation and entrepreneurship as an important measure to accelerate the formation of a new development pattern of “dual circulation”，especially to focus on the design of incentive and evaluation system，encourage the creation of innovative atmosphere and mechanism，higher level of openness and digital assistance and other key links.