Enterprises, and in particular SMEs, approaching innovation in its various forms, obtain competitive
advantages. Supporting innovation in SMEs can foster their growth and competitiveness. In recent years, the
state policy aimed at supporting SMEs and innovation has been developed considerably in the Republic of
Moldova, but the business environment is not yet sufficiently favorable for the implementation of innovations by
SMEs.
The paper aims to present a multiaspectual analysis of the SMEs innovation activity, addressing the
following topics: (i) a brief analysis of the development of small and medium-sized enterprises sector in the
Republic of Moldova; (ii) the analysis of innovative SMEs based on statistical data and the position of the
Republic of Moldova in the international ranking the Global Competitiveness Index; iii) the main constraints on
the development of the innovative connections between the SMEs and the key actors, involved in the innovation
activity;iv) an overview of the legislative framework and policy documents to support innovation in SMEs and
the progress assessment of the implementation of the innovation policy documents.
The research results revealed that the innovation activity of the SMEs in the Republic of Moldova is
modest and has diminished in the last period, which negatively affects the competitiveness of both the companies
and the country as a whole, despite all the reforms made, the efforts to improve the business environment and
promote innovation at the national level.
The research methodology is based on an analysis of statistical data and international rankings data;
the analysis and assessment of the policy documents; as well as the results of the interview with the main actors
of the innovation process - entrepreneurs, research institutions, intermediary institutions, which were carried
out with the participation of the authors in recent years.