Abstract: In order to promote the implementation of national innovation driven development strategy at the company level, this paper first constructs the index system of the impact of scientific and technological innovation on company development. Secondly, through the establishment of structural equation model, we quantitatively explore the mechanism among the company's innovation input ability, innovation research and development ability, innovation output ability and innovation transformation ability, and explore the influence intensity of the innovation ability on company's profitability, sustainable development ability and market competitiveness by the innovation output ability and innovation transformation ability. Finally, the verification results are analyzed and corresponding policy suggestions are put forward. The research finds that improving the company's innovation transformation ability is the key way to enhance the company's sustainable development ability and market competitiveness, and the transformation of innovation achievements is the primary task of the company's long-term development.