The article is dedicated to innovation policy effectiveness, taking as an example the case of Finland. The country has been at the top of innovative countries’ rankings for many years. Historic analysis is used to explain the factors of the innovation policy effectiveness and success. The author concludes that it lies in advanced technology integration with the economy and depends on harmonization of the complex system of factors, including institutional competences in certain technologies, business attitude to innovation risks, access to the global technology market, etc.