This study analyses the effect of public R&D support (or government support, equivalently) on product, process, organisational and marketing innovation and the moderating role of deregulation. This study analyses 2018 Korea Innovation Survey conducted by STEPI, South Korea. This study uses logistic regression model for the analysis. As the results, this study revealed that both public R&D support and deregulation increased the likelihood of product and process innovation and there exists interaction effect each other with opposite way according to the innovation type. Specifically, this study found that the effects of public R&D support and deregulation on organisational innovation were little, but synergy effects occurred when both policies were implemented at the same time. Lastly, public R&D support had a negative effect on marketing innovation when the degree of deregulation was little, but the effect turned positive when the degree increased. Unlike previous studies that analysed the effects of individual support policies, this study has a contribution in that it analysed the moderating effect of deregulation on the effect of public R&D support on innovation. In addition, unlike previous studies that focused on product and process innovation, this study also contributes to literature by analysing organisational and marketing innovation.