Financial Innovation In The Development Of Internet Of Things Industry: A Case Study Of Techpark

Internet of Things (IOT), which is advanced stages of internet economy and at the top of the applied science, will open a trillion-dollar market with continually growing investment demand. The IOT industry park, in which IOT enterprises locate, will play more important role in development of the national economy. The IOT industry park in Wuxi city has lagged behind other advanced domestic and international IOT parks, mostly, because the financial services can’t meet the enterprises’needs.Large investment, high-tech, high risk and high failure rates of the IOT companies need hi risk, long term and large investment financial service. The specific IOT industrial park is located in the Tai Lake Science and Technology Park of Wuxi city. In that IOT park, The science and technology should merge timely and stimulate the flowing areas:scientific development of IOT enterprises, scientific results converting industrial products, and industrialization. To obey the rules of the developing for IOT parks, and to promote the developing of IOT parks well, we should construct the efficient financial service system, attract large capital to invest, form the new innovative financing system.There are chances for the innovation of financial service in IOT with the developing of the economy and the orderly open of financial regulation. There are more and more innovation and derivation financial products in the market. The control of the risk becomes more diverse and effective. Science and technology enterprises become much market-oriented financing. The human resource, funding, hard wear and environment created by combining financial and science-technology, has prepared. The construction of investment and financing become the important section in the development of high-tech industrial parks. Much can be learned from the financial services modes in other science-technology industrial parks and IOT parks.This paper is based on the investigation to the IOT park in the Tai Lake international science-technology industrial park in Wuxi city (referred to as Techpark). It analysis the problems and chances of financial supports and innovation of the finance, from the need of finance and combined with the special of financial demands and the development of the industry. Considered the theory of financial constraints and its analysis in the new environment, and trend of technological financial theory, the paper find the real meaning of innovation for science-technology finance and the path to realize. Learned from the experience of the constructing financial environment in other science-technology industrial parks, the paper discusses the solution of financial innovation for Techpark and gives some suggestion.