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This reprint contains a total of 10 articles accepted and published in the Special Issue "Application of Mathematics for Modeling Industrial Innovative Systems and Processes" of the MDPI Mathematics journal. This Special Issue covers a wide range of topics in the field of innovative development processes and mathematical modeling in industry. It focuses on the formalization of continuous and discrete systems, cyclical development study, and achieving global optimum production efficiency in the context of the triple helix of interactions. Additionally, this Special Issue explores the study of development traps, similarity and difference assessment applied to the functioning of innovative systems in different countries, regions, and types of economic activity based on the use of modern mathematical methods of data processing and visualization. It reveals latent patterns, including the use of computer analysis. This reprint aims to be both interesting and useful to those who work in the field of modeling industrial and innovative systems and processes, modeling cyclic processes, mathematical risk assessment, and dynamic supply chain models. This reprint may also be of interest to those who are curious about the latest achievements in queuing theory, methods of multidimensional statistical analysis, which serve as an effective tool for making management decisions, and unlocking the hidden potential of management objects.