Knowledge-based production and technological entrepreneurship are considered the primary strategies for industrial development; hence, a fundamental review of mathematics education for engineering students is an undeniable necessity. The traditional education in engineering mathematics, despite its theoretical richness, has not been able to strengthen students' analytical, economic, and technological skills necessary for making decisions in production processes and developing innovative products. The current research was conducted to design, validate and assess the structural effectiveness of integrating mathematics education and technological entrepreneurship skills in the engineering curriculum. The research method is a mixed exploratory type. In the qualitative part, eight components were identified through semi-structured interviews. In the quantitative part, a 60-item questionnaire based on qualitative findings was designed and distributed. In quantitative data analysis, the findings revealed that the proposed framework comprises five main components: education based on real industry problems, utilizing real production data, financial and mathematical analysis of projects, integrating new technologies into learning, and direct communication with production environments. The results indicate the effectiveness of this framework in enhancing the ability to make decisions for production, intelligent investment in production, and strengthening the technological entrepreneurship insight of students.