Abstract:The science and technology supervision system has become more complex due to the involvement of social supervisors. In this case, the analysis just from policy and management cannot completely reflect the internal logic of the system operation. In order to illustrate the relationship between the stable equilibrium of the whole system and the external dynamic feedback more clearly, this paper builds a system dynamics model with the government, project managers, project executors and social supervisors as the main body on the basis of analyzing the operation mechanism and connotation of the supervision system. The key elements that affect the operation of the supervision system and the feedback relationship between the elements is analyzed. In addition, Computer simulation software is used to analyze the behavior choice and interaction of each supervisor, and predict the development of the system. The research shows that, when the science and technology supervision system operates stably, the innovation performance presents a stable change trend in the early, middle and late stages.The supervision cost of social supervisors is low and the supervision effect is excellent. The impact of the Black Swan incident on the science and technology innovation system is closely related to the impact of the event and the subsequent risk response and disposal.