Broadly defined innovation and creativity are, nowadays, the key factors of economic growth. They are the main driving force of development. Since there is a positive correlation between innovation and an economy's efficiency or its attractiveness for investors, implementation of novel and creative solutions can help achieve enhanced business results. Innovation and creativity are instrumental in creating a sustainable competitive advantage in the global market. The ability to create, implement and promote innovation depends largely on the available resources and on the state innovation policy. In the coming years, Poland is going to face the problem of low level of innovation, as well as the dearth of innovation factors. Among the weaknesses of the Polish innovation system are: inefficient utilisation of human capital, low expenditure on R&D activity, considerable dependence on budgetary financing, weak self-innovation ability of small and medium-sized enterprises, poor cooperation between businesses and research institutions, and the mismatch between research activities and the needs of the manufacturing and service sectors. The low level of innovation hampers economic growth and threatens sustainable development. In view of the above, there is a need to define the directions of innovation policy of the state and to improve the conditions for innovation in Poland.