Western analysts are still pessimistic about the prospects of technological (innovative) business in Eastern Europe. Not only unsatisfactory domestic economic processes, but also the current global economic structural and industrial transformations are the factors of the decline and backlog in Ukraine. However, unfortunately there is no doctrine in Ukraine to overcome them. The paper deals with the problems of regulation and stimulation of the innovation component of economic growth of enterprises, industries and regions through integrated use of all possible activators. Transformational and overtaking economies are imposed to follow inertial growth strategy based on the ideology of neo-liberalism and market fundamentalism. A flexible and effective protectionist policy and state strategy to stimulate the growth of sectors are especially important. The new government policy of economic growth of Ukraine should take into account that innovatization and intellectualization of macroeconomic processes are the defining vectors in a global terms. This new policy should integrate the concepts of innovatization and renewal innovation of industrial foundation of the country. “Falling out” of the process of intellectualization of economic life would mean the loss of even theo¬retical perspectives to catch up the leading countries of economic progress. The role of the state, its “hard” and “diffuse” institutions should be rethought in the process of the development of a modern market infrastructure and institutions of developed market relations in Ukraine. So the ways of state impact on socio-economic processes should be improved. Comprehensive incentive mechanisms such as activators of innovative processes are necessary to develop in the global competition and “global” fight against protectionism instead of clear policy prescriptions.