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Purpose of the article is to identify and justify the need to implement cross-cultural factors in the development of innovations in Ukraine. Methodological basis of the research is the use of both general scientific and sociological methods. The theoretical and methodological basis of work is the system of general scientific and special methods, namely: historical-logical methodto study the evolution of economic thought regarding the definition of cross-cultural factors and their types; theoretical generalizationto determine the functions of innovation; systematizationto streamline approaches to the concepts of open innovations and cross-cultural factors. General scientific methods of systematization and generalization, the method of comparative analysis allowed to assess the in fluence of cross-cultural factors on the development of innovations in the conditions of globalization. Scientific novelty is to substantiate the necessity of expanding cross-cultural factors in assessing the innovation potential of both an individual region and Ukraine as a whole in the current conditions of globalization. Conclusions. In modern conditions, Ukraine needs to learn the experience of foreign countries, in particular, the United States of America. This is the country where such innovation companies as Hewlett Packard, Dell, Microsoft, Oracle, Google and many others first appeared in the garage or in a student dormitory room, and then grew into global leaders. If Ukraine in the future wants to be a country with the innovative economy, it should make it possible for students to create a company in the garage and in a few years enter into the world market. It is necessary to educate a new generation of innovation-oriented youth, for whom there will be no cross-cultural restrictions and barriers.