There really is no reason to take tech as fast as You can. After someone else take the first tech You still have two months when You taking it will reward You with +2 Innovativnes. Just wait as long as You can to limit monarch point usage.
The fewer points you use, the more you have left for subsequent technologies and chances for even more innovativeness.
The latest changes to the notifications (when the innovative-tech tab goes red) help you do that.
I'm over 50% circa 1630 so doing good I guess, does feel like the overall reward for it is not huge tho.
It really depends on how efficiently you manage to generate innovativeness - and under what conditions.
If you can build it efficiently - and not have it cost you many opportunities, then it's excellent.
If you're balancing a lot of other demands, then it's not worth pursuing as much.
Personally, I'd recommend playing as a coloniser when doing an innovative run. This way you can expand without Warring and Coring, and have plenty of monarch points and cash ready to go. It really suits a 'tall' playstyle.
