Importance The research deals with the State economic policy for innovation and examines the expertise of the Nordic countries. Objectives We analyze the State aid methods for innovative development of the leading European countries, systematize financial and non-financial mechanisms for stimulating innovative activities. Methods The research relies upon a comparative analysis of tools the State policy envisages for innovative development of the Nordic countries and Germany. The analysis is based on such publicly available sources of information as Eurostat, OECD database and library, European Commission's reports, documents of ministries and agencies. Results We identified the most common tools of the innovation policy and financial and non-financial measures addressing the contemporary global challenges in order to secure the national interests of the countries. Conclusions and Relevance Many developing countries have just embarked on their innovative development process. It is rather complicated to formulate strategies, effective supporting instruments and tools in line with economic and historical specifics. It is necessary to consider the positive and negative experience of the leading countries. Precise and elaborate strategies of the Nordic countries and Germany became the cornerstone for big achievements on the way towards the innovative economy. Those achievements were made with a set of measures undertaken by the State and private institutions.
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