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With the transition to a knowledge-based economy, innovation has become a driving force for economic and social change. It is already more than just a factor in the production of goods and services – it has become a form of mass awareness of both innovation and its implications. In this central role, successful innovation requires the population to obtain a higher level of education, be more creative, and boost their ability to perceive essential achievements in science, technology, and innovation (STI) and implement them in daily practices.
The article discusses the possibilities and prospects of the formation and development of an innovative economy in Uzbekistan. It was analyzed the models of the countries that are dynamically using innovative ways of development in the world and the policy of innovation of the CIS member countries. SWOT analysis on the problems and opportunities of the innovative development model of Uzbekistan was carried out, and final conclusions were made.
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