Abstract: By distinguishing the different motivations of leading enterprises incubating small and medium-sized enterprises, this paper summarizes three main types of “leading enterprises and incubation” model, which are the transformation-driven incubation models of leading enterprises based on their own organizational or business transformation and upgrading needs. The vertical integration incubation model of the industrial chain that the company seeks for breakthrough development in its own technology, products, and business, as well as the ecological creation incubation model based on the strategic goals of leading enterprise ecosystems. At the same time, from the two dimensions of the government level and the leading enterprise level, the existing problems and suggestions of “leading interprise and incubation” are proposed.

Key words: leading enterprise, SME, industrial integration, incubation