Abstract: The 12th Five-year Plan for the Development of Science and Technology put forward the strategic goal of developing the new type of financial service organizations and the new way of financing to promte S&T innovation. This strategic goal is very important in supporting the development of S&T SMEs, promoting the transformation of S&T achievements, and cultivating strategic emerging industries. Currently, there are many kinds of S&T financial service organizations, especially aiming at private enterprises. These organizations develop many kinds of financial service products and models, such as UPG, Ali Finance, etc. These organizations and models provide an effective support for China's SMEs in innovation and entrepreneurship. But at the same time, these new things also bring new challenges to the traditional financial services models. This paper deeply analyses the typical innovative financial service organizations and proposes relative policy suggestions.