This article analyzes the essence of innovative activity in the economy, its stages of development and specific features. It considers the role of innovative activity in modern economic development, its importance in the development and introduction of new technologies, as well as its role in increasing competitiveness. The article also analyzes the factors affecting the state support of innovative processes, the active participation of business entities and the formation of an innovative environment. Proposals and recommendations are presented to accelerate innovative activity in the economy of Uzbekistan.