Innovative modernization is a factor that ensures the dynamic development of a new type of economy in the Russian Federation. It takes place when understanding and actualization of a balanced system of relationships «science-production-society» depends on the level of development of this process. The authors consider problems that need to be solved through the infrastructure of innovative modernization, the theory of modernization and its main trends while studying a new type of economy. Innovative modernization is one of the prerequisites for achieving the sustainable development of a new type of economy. As a methodological basis, the authors used general scientific methods such as system analysis, synthesis, generalization and classification, abstraction and analogy. The analysis results show that it is necessary to transform and change approaches to innovative modernization of the Russian economy to ensure the sustainable socio-economic development of the Russian Federation. As a result, the key development areas for innovative modernization were highlighted: possibilities of innovative modernization within the development of elements of a new type of economy are determined, the mind map of innovative modernization is developed.