Abstract: Improving the success rate of entrepreneurial activities in colleges and universities is an important way to promote national scientific and technological innovation. However, the success rate of science and technology entrepreneurship is not high in China and it’s easy to fall into the "Death Valley" in 2-3 years ". The nature of this phenomenon which is very frequently maybe are lacking of awareness of the Academic Entrepreneurship objective laws and understanding of scientific research personnel in the entrepreneurial process, therefore, this research constructed a theoretical model of academic entrepreneurship creation process based on grounded theory.