The purpose of the current research is identification of problems that the investment and construction business faces in conditions of innovative economics. The urgent necessity to systematize these problems and find ways of their solution determined the relevance of the research. Using the methods of statistical processing of information, economic groups and logical analysis, the authors assessed innovative activity of enterprises, concluded that it was reduced, and pointed out the main problems of the investment and construction sphere. The problems include technological backwardness and low level of innovation, insufficient qualification of stuff, which is able to generate and introduce innovations in construction, and lack of attention of company management to the strategic aspects of innovation. The problem of investment and construction enterprises related to the restoration of business that suffered from pandemic is especially highlighted. These problems are closely related to the low level of investment in the innovative development of the construction business. Financing of the innovative activity is directly related to all participants of the innovative process. It is necessary to organize a clear mechanism for participants' interaction. As a result, authors of the current research classified the participants of the innovative process in investment and construction business, determined their functions. The authors suppose that the problems of innovative financing are the most significant. In this connection, the problem of venture financing of the innovative activity is considered in more detail and solutions are offered. © Published under licence by IOP Publishing Ltd.