This study aims to examine the influence of factors like national culture on the volatility of innovation investment. For this purpose, theoretical propositions are provided based the literature and discussions of innovation and national culture. The patterns of innovation investment of each country are expected to be influenced by its level of Hofstede’s cultural dimensions, including uncertainty avoidance, power distance, and collectivism. Scholars and business people are recommended to pay attention to the characteristics of local culture to manage various innovation projects.