In the contemporary economy, the sustainable growth of the competitiveness of small and medium-sized enterprises (SMEs) can be ensured provided that innovations are implemented in enterprises. The innovative potential of enterprises can be raised through various methods, including cooperation with other enterprises and researchers. The purpose of this paper is to analyze the innovation activity of SMEs in the Republic of Moldova and identify opportunities and barriers to cooperation of SMEs with other enterprises and research institutions in the Republic of Moldova in order to develop and/or implement innovations. The results of the research showed that in the Republic of Moldova, SMEs are quite reluctant and passive in cooperating with other companies and research institutions to implement innovations. Moreover, for the most part, Moldovan SMEs are not aware of the need to implement innovations based on research results, but researchers - of the need to market their results.