Yes and no. The Borg seem to struggle with inventive thought, preferring to acquire new technology not through patient scientific experimentation, but through the assimilation of various species with pre-existing knowledge. In Voy: Scorpion, this nearly proves to be their undoing when they're unable to determine why their assimilation tech isn't working against Species 8472.
TORRES: That's right. The Borg gain knowledge through assimilation. What they can't assimilate, they can't understand.
That being said, they do appear to have the ability to combine knowledge in new and unexpected ways. We see a perfect example of the Borg equivalent of the scientific method in Voy: Omega Directive.
JANEWAY: I'm curious... when did the Borg discover Omega?
SEVEN OF NINE: Two hundred, twenty-nine years ago.
SEVEN OF NINE: Yes, of thirteen different species.
SEVEN OF NINE: It began with Species Two-Six-Two. They were primitive, but their oral history referred to a powerful substance
which could "burn the sky." The Borg were intrigued... which led them
to Species Two-Six-Three. They, too, were primitive.. and believed it
was a drop of blood from their Creator.
SEVEN OF NINE: Irrelevant. We followed this trail of myth for many years... until finally assimilating a species with useful
scientific data. We then created the molecule ourselves.
Followed by experimentation
SEVEN OF NINE: Perhaps you should do the latter. I will not help you destroy Omega. It should be harnessed.
JANEWAY: That's impossible.
SEVEN OF NINE: The Borg believe otherwise.
SEVEN OF NINE: On one occasion, we were able to create a single Omega molecule. We kept it stable for one trillionth of a nanosecond
before it destabilized. We didn't have enough boronite ore left to
synthesize more. But the knowledge we gained allowed us to refine
JANEWAY: And the Borg have been waiting for the chance to test them out...
SEVEN OF NINE: Yes. But we never found another source of the ore. Until now.