Do you agree that 'good design is innovative'?

As I understand it, innovation is the application of inventions into a product that generates value.
As a design engineer I would say that many good design solutions are achievable with respect of fit, form, function and generate value with by applying ones experience, design skills in developing & improving existing methods & processes. Of course improvements are not innovations yet can both successfully & efficiently meet the design spec as long as it is not too big a step.
An example of this is the constant development of aircraft structures type of riveted aluminum sheets on ribs, that has taken place over nearly 80 years & developed with incremental improvements to meet the requirements of different propulsion systems, aircraft applications & air pressurization. Only recent fuel efficiency needs or military requirements have brought the step change innovation of composite design, yet sheet & rib still has its uses!

Hope this is of help & starts you off.

Most probably a good design will be innovative, but it must fulfill certain criteria. Such as concept of the design, your viewer and what you want to represent to your audience.