Effect of Financing Structure on Technological Innovation for China’s Industrial Software Industry: Case Study of Empyrean Technology Company

After being banned from using many important foreign industrial software, China promotes the development of domestic software as a national strategic goal. There are literatures analyzing promotion effect policy on technological innovation China’s but there is still gap in research financial structure. Taking Empyrean Technology Company an example, this paper analyzes financing structure company’s different periods. In entrepreneurship stage, mainly driven by internal and government subsidy. growth equity plays greater role promoting than debt financing. Therefore, study suggests enterprises to actively apply for subsidies stage explore channels stage. Chinese central can encourage more venture capital be invested industry improving exit mechanism.