Propensity Score Matching Model is utilized in this paper to evaluate the incentive effect of tax incentive and financial subsidy on independent innovation investment of high-tech enterprises in Zhongguancun. The results reveal that: Enterprises are more likely to obtain these two support policies with better operating conditions, stronger innovation abilities, more knowledge capital stocks and smaller companies size; The shorter companies history , the more easily enterprises obtain tax incentive, but time is not a significant factor for enterprises to obtain government subsidy ; Tax incentive can effectively promote high-tech enterprises to carry out innovation activities; Financial subsidy has some positive effect on promoting innovation spending of high-tech enterprise, but compared with tax incentive, the effect of financial subsidy is not obvious, there are certain degree of policy imperfection when addressing market failure.