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The transformation of the economy of Ukraine predetermines the need for comprehensive analysis of its impact on the areas of economic activity because the depth of transformation processes has significant differences. In this regard especially important is innovation environment, on the development of which the competitiveness of the national economy largely depends, as well as the pace and quality of economic development. The analysis of the features of the transformational changes in the environment, especially in the innovation sector, is particularly relevant under conditions of global competition. The aim of the article is to study the development of global innovation environment, development and scientific substantiation of directions ensuring national innovation competitive advantages, to identify opportunities to use integration processes to enhance international innovation investment cooperation. To achieve this aim we applied the following methods: abstract–logical, structurally–logical, comparative and statistical. Peculiarities of innovation development in Ukraine under conditions of growing global competition were examined. We studied transformational changes in the development of investment and innovation environment in Ukraine, which made it possible to determine the real state of its innovation appeal. The innovative development was considered as self–reproductive basis for the formation of new patterns of economic dynamics, modernization of the national economy, technological convergence of Ukraine into global economic space, maintaining intellectual potential. The study of the transformation of innovative development and market transformation efficiency of social production showed that the innovation attractiveness of Ukraine is significantly affected not only by the general state of the national economy but by the conditions of business activities. The practical value of the research is in the fact that the implementation of the formulated strategic objectives in the innovation field will allow the national economy to solve the problem of substantial growth of the gross domestic product, to improve investment attractiveness, to create conditions for the development of existing and for attracting new companies, to create new sectors of the economy in the field of small and medium sized innovative businesses, to form the clusters of innovative enterprises, to ensure integration of science, government and business. The issues of the transformation of innovative development will require further detailed study in the context of overcoming the crisis of competitiveness of the national economy, market transformations for the efficiency of social production.