Indigenous innovation and industrial upgrading are the defining trends of economic development in the new era. With the formation of city clusters and the more scientific industry plant layout, the demand for talents in various cities is increasingly pressing. College students have become the major groups in the context of talent introduction policy. Major cities have initiated preferential policies to attract talents. The Scramble for Talent Campaign occurs among cities, making a considerable difference on the college graduates’ employment and entrepreneurship. Since the initiation of “Scramble for Talent” campaign, the talent flow in relevant cities has accelerated measurably. The research shows that Hukou (the household registration) is the main element that the college graduates factor into consideration when selecting places of employment, and the fund and policy support they are able to receive are the key elements to promote innovation. In the “Scramble for Talent”, such measures as relaxing restrictions on household registration policy, launching preferential loans policy and other support policies have considerably influenced on the college graduates’ employment and entrepreneurship, which helps to optimize the distribution of talent resources and improve the willingness and success rate of entrepreneurship. In order to illustrate the effect, a series of policies and the transformation and upgrading of pillar industries are required in the introduction of talents. The blind scramble for talents will not only unbalance the allocation of human resources but will also cause social problems. It will spread the “City Disease” from the first-tier cities to the second and third-tier cities. The college students and all relative administration in all regions should pay high attention to this problem during the course. Generally speaking, the “Scramble for Talent” Campaign is a special phenomenon in a special period, which positively impact the college graduates’ employment and entrepreneurship.
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