Abstract:Based on the summary and analysis of the research on the evaluation of innovation capability of listed companies, this paper constructs the evaluation index of innovation capability of listed companies with the science and technology innovation board, and conducts an empirical study on the innovation capability of 25 listed companies in the first batch of the science and technology innovation board by using the factor analysis method and Z-means clustering analysis. Empirical research results show that the first batch of listed companies registered in the science and technology innovation board are unevenly distributed and some enterprises' innovation ability is not high. Based on the empirical analysis, this paper puts forward some suggestions, such as strengthening the government's policy guidance, expanding enterprise innovation investment, and emphasizing technology transfer capacity building.