The scientific task of the article is to study the current state of innovative activity of industrial enterprises in Ukraine based on the accepted methodology of statistical observations and methods of financial mathematics. This unique approach distinguishes the study by its ability to eliminate the influence of inflationary processes, enabling a thorough analysis of dynamic series in comparable prices. The research aims to identify the distinctive features of state management in innovative development, emphasizing the effective utilization of Ukraine’s resource and scientific-technical potential. The analysis draws attention to the inadequacies in the realization of the main goal of the state’s innovation policy, which is to create socio-economic, organizational, and legal conditions conducive to the effective development of scientific and technical potential. In practice, the focus on fostering innovation in the Ukrainian economy has translated into market-driven imperatives, compelling enterprises to invest in research, development, and technological upgrades for competitive sustainability. However, the study underscores the insufficiency of internal resources, as evidenced by a 5.2% decline in industrial production in 2020, highlighting the negative impact on innovative activity. The article proposes strategic recommendations for enhancing innovation policy, including the development of the stock market, creation of an attractive investment climate, localization of regional innovation priorities, and a focus on green public procurement. The study’s scientific novelty lies in its application of statistical observations and financial mathematics to offer a comprehensive and inflation-adjusted analysis, shedding light on the nuances of state management in fostering innovation for the optimal use of Ukraine’s vast resource and scientific-technical potential.