First of all, you don't need to format the hard drive to install Windows 7. The install process will do that automatically for you.
Second, is your computer a netbook with no DVD internal drive? If so, then you need to burn the ISO image of the install to a USB Flash drive to install the operating system. It is faster and should work if that's the case in your situation. Go to:
How to create a bootable Windows 7 USB flash drive Then set your netbook BIOS to boot first from USB Hard Drive.
Third, if the USB DVD drive is recognized in the BIOS then you don't need drivers for it. Just be sure to make it the "First Boot Device" and the install should go smoothly.
What brand and model is your computer? If you would give us some information, that will be a help regarding your issue.