Low regulation is a necessary but not sufficient condition for innovation.
Restating it isn't convincing. Innovation didn't stop when slavery was banned, innovation didn't stop when Romans mandated that bread sellers sold a fair amount of bread, or when weights and measures were standardised in commercial transactions, or when mains electrical devices had to be earthed/grounded/double-insulated.
"You can't pollute groundwater with careless discharge of nuclear waste" - innovate within that constraint.