While innovation and the finance function don't necessarily get associated with one another, finance's ability to provide dispassionate views into internal and external information is very helpful in creating awareness about innovation (or the lack thereof) that is occurring.
Read more [1] at The Big Fat Finance Blog [2].
Links:
[1] http://bigfatfinanceblog.com/2009/02/23/finances-role-in-solving-the-innovation-paradox/
[2] http://bigfatfinanceblog.com