The article is an enquiry concerning the influence of the intellectual capital on the development of the innovative economy. The standpoints of foreign and domestic scientists concerning intellectual capital as the economic category have been analyzed. Its characteristics and structure have been determined. The authors' interpretation of the "intellectual capital" category has been formulated. Education as a factor of innovational development has been focused on. The relationship between the expenses on science and the quality of economic growth has been revealed. Questions regarding the provision of state budget financing of scientific and technological activities have been considered. The dynamics of the allocation of highly qualified human resources, engaged in scientific and technical activities have been examined. The problem of the ineffective use of personal innovative potential has been explored. The key objectives of the strategy of Ukraine's innovative development have been formulated. Certain proposals for reforming the system of higher education in Ukraine have been put forward.

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