INNOVATIVE STARTING STARTS AS A FACTOR OF ECONOMIC DEVELOPMENT: BEST WORLD PRACTICE AND EXPERIENCE OF UKRAINE

Keywords: innovations, start-up, transformation processes, institutional support, infrastructure, latest technologies

Abstract

Ukraine's current socio-economic development situation emphasizes the role of components of the national innovation system, which is the formation and support of innovative technology companies. Venture capital institutions are considered to be one of the most effective tools for attracting investment in European countries. The purpose of the article is to explore the features of the institutional infrastructure to support innovative start-ups in Ukraine in the context of the world experience. World experience shows that venture capital investments are most likely to be formed in the creative environment of universities. To intensify venture capital investment at the state level, it is proposed to strengthen activities to create favorable conditions for the generation of business ideas and their transformation into innovations that the investment community may require. The science and education segment is good for this spread of innovation. The author identifies that the key problem in Ukraine is the gap between the stated policy objectives and the actual implementation of policy measures. Companies' innovation depends on many factors, including finance, human resources, market access, a favorable legal environment and other factors. To ensure the development and prosperity in today's highly competitive economic climate, entrepreneurs are trying to arm themselves with innovative vehicles and experience. In this regard, in many countries, the priority has been to encourage people to be creative, innovative and entrepreneurial. Start-ups can show positive dynamics by occupying some new markets with new products, technologies and inventions of business models. In turn, this will create opportunities for diversification of the technological base of the economy. Universities equipped with the latest technology should be the ideal environment for creating an initial atmosphere for an innovative business climate. The priority is to create a productive system of cooperation between science and entrepreneurs by intensifying the process of implementing the most commercially attractive ideas in civilian circulation and simultaneously training highly qualified personnel for this purpose.

Published
2022-06-30
How to Cite
Тимошенко, М. В. (2022). INNOVATIVE STARTING STARTS AS A FACTOR OF ECONOMIC DEVELOPMENT: BEST WORLD PRACTICE AND EXPERIENCE OF UKRAINE. Scientific Notes of Lviv University of Business and Law, 33, 13-20. Retrieved from https://nzlubp.org.ua/index.php/journal/article/view/544
Section
Articles