Promoting scientific and technological innovation and high-quality development of small and medium-sized enterprises is an important part of implementing the national innovation-driven development strategy and manufacturing power strategy. At present, with the rapid development of “digital finance” some “digital finance” tools can effectively alleviate the difficulties of “financing difficulty” and “expensive financing” of SMEs’ technological innovation and provide effective support for SMEs’ technological innovation. Digital transformation is an effective way for our country’s small and medium-sized enterprises to achieve high-quality scientific and technological innovation development. Based on the theoretical framework of TOE, this paper adopts the necessary condition analysis (NCA) and fuzzy set qualitative comparative analysis (fsQCA) methods to reflect the so-called technical, organizational, and environmental aspects. The specific action mechanism of various antecedent conditions, including data algorithms, is based on the digital transformation of enterprises. It provides a useful reference for understanding the role of digital finance between the government and enterprises. It also provides new ideas and empirical evidence for designing and improving relevant science and technology innovation policies, which have important theoretical and practical significance.
