Governments worldwide strive to find the appropriate level and balance of financial support for innovation to address several competing and pressing policy objectives, such as improving productivity or addressing the climate crisis. This policy brief presents the latest OECD evidence on how governments direct support to innovation, drawing on recent OECD measurement and impact analysis. It recommends rebalancing innovation support portfolios and addressing major measurement gaps on directionality that are critical for managing for the transformation of innovation systems for key transitions.