This study was aimed at analyzing the structural relationship among such factors as industrial environment, technological cooperation, technological innovation performance and management performance that are essential to technological innovation of small and medium-sized companies. For this aim, an analysis was conducted to determine which of the factors in industrial environment has impact on technological cooperation of small and medium-sized companies. An empirical analysis was also performance to find what kind of effects the technological cooperation may have on technological innovation and management performance. From the analyses, it became known that: first, changes in industrial environment have influence on technical cooperation factors including production technology, technical information, technical manpower and fund for technology that are assorted by means of factorial analysis; second, the technological cooperation of small and medium-sized companies has impact on their technological innovation performance; and third, the technological cooperation of small and medium-sized companies has impact on management performance.