The article presents the accumulated domestic and foreign experience of the state policy on the development of innovative entrepreneurship in the field of small and medium-sized businesses and its impact on the business results. The measures of support for innovative entrepreneurship by the authorized bodies of state power of the Russia and foreign countries, including a number of European countries and the United States of America, are examined for similarity. The analysis of the achieved efficiency of implemented state measures aimed at supporting innovative entrepreneurship, as well as recommendations by domestic scientists to improve it was carried out.