SMEs in the incubation are the main innovation of a nation, and the new product is not without SMEs technology innovation. It is not only the theoretical but also practical significance that SMEs in the Incubation develop strongly for economic growth and technology innovation, but as the normal SMEs, they also face the financial support difficulty or more others. This paper analyses the financial demand characters of SMEs in the incubation based on the theory of business life cycle. The conclusion is that different development phases need different financial support because SMEs in the incubation face different financial cycles. The financial support system is set up to fit the cycle needs of SMEs in the incubation, and then the suggestions are illustrated. The results can be the reference for the problems of financial support for SMEs in the incubation.