Stimulating financing innovative activity

Keywords: financing, innovation, innovative activity, industry

Abstract

Purpose:  The aim of the study is to analyze investment activities in Ukraine to determine effective mechanisms and incentives for financing innovative activities.

Design / Method / Research approach. In the national economy of Ukraine, effective models of financing innovative activities, favorable for enterprises that introduce innovations, have not been created. Carrying out innovative activity, which is highly risky and does not always enable to plan profit amount, requires the use of financing flexible forms. Currently, there is no solution to individual issues of strengthening the positive impact of state financial policy on the innovation development in industry, funding sources optimization for innovation. In this regard, it is necessary to clarify the scientific provisions on the substantiation of mechanisms for stimulating the innovative activities financing as an important element of the national economy development state regulation.

Research results. The trends of innovative activity in terms of its financing sources have been analyzed. The problems of organizing the industrial enterprise financing have been highlighted. Prospective ways of solving the problem of financing innovative activities volume increasing and structure improving have been presented. It is necessary to transform the depreciation, budgetary and taxation, credit, technical and technological, foreign trade policy.

Theoretical value of research. It is proposed to modernize the methodological foundations for the targeted comprehensive programs development, implemented in the innovation sphere, which should consider the possibilities of using the appropriate instruments inherent in different areas of public financial policy, primarily budgetary and taxation.

Practical value of research.  In order to stimulate innovative activities financing, it is necessary to introduce public-private partnership instruments. Various instruments can be used to solve the problem: direct government funding, government guarantees provision, joint (with a private partner) entrepreneurship (with or without a creation) on the basis of an open transparent tender. Further stimulation of conscientious venture business is advisable.

Originality / Value of research. The research is an original result of scientific work carried out by the author's team.

Research Limitations / Future Research. It is advisable to stimulate a conscientious venture business, which inherently tends to the implementation of innovative activities. The tools for the administration of intellectual property recognized by the world practice should be introduced.

Type of article: theoretical.

Downloads

Download data is not yet available.

References

Azgaldov G., Kostin V. (2008). Intellectual property, innovation and qualimetry. Economic Strategies, 2 (60), 162-164.

Barton J. H. New Trends in Technology Transfer: ICTSD Issue Paper No. 18. Geneva: ICTSD 2007. 41 p. Available from : https://www.iprsonline.org/resources/docs/Barton%20-%20New%20Trends%20Technology%20 Transfer%200207.pdf

Boiko, O.M. (2015). Industrialni parky ta rozvytok innovatsiinoi diialnosti v Ukraini. Formuvannia rynkovykh vidnosyn v Ukraini, 4, 66-71.

Derzhavne stymuliuvannia innovatsiinoho rozvytku subiektiv hospodariuvannia: metodolohichni zasady, svitovyi ta vitchyznianyi dosvid (2019): monohrafiia / za zah. red. kand. ekon. nauk, dots. L. S. Zakharkinoi. Sumy : Sumskyi derzhavnyi universytet, 200 р.

Fedulova, L. (2013). Innovatsiinyi rozvytok: evoliutsiia pohliadiv ta problemy suchasnoho usvidomlennia. Ekonomichna teoriia, 2, 28-45.

Horodianska, L. V. (2019). Analiz vplyvu innovatsii na riven vidtvorennia ekonomichnykh resursiv. European scientific journal of Economic and Financial innovation, 1 (3), 29-38.

Hrytsenko, S. I. (2016). Realii ta mozhlyvosti stanovlennia industrialnykh parkiv u konteksti zabezpechennia staloho rozvytku Ukrainy. Ekonomika i orhanizatsiia upravlinnia, 4, 54-63.

Kvasha, O. S. (2016). Innovatsiinyi rozvytok ekonomiky Ukrainy. Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu, 6, Chastyna 1, 150-154.

Levchuk, N. I., Romanovska, T. I. (2015). Vneshnie investitsionnyie resursyi razvitiya pischevoy promyishlennosti Ukrainyi. Scientific Works of University of Food Technologies (UFT, Plovdiv, Bulgaria), Volume LXII, 870-872.

Liubkina, O., Murovana, T., Magomedova A., Siskos, E. & Akimova, L. (2019). Financial Instruments of Stimulating Innovative Activities of Enterprises and Their Improvements. Marketing and Management of Innovations, 4, 336-352. DOI : 10.21272/mmi.2019.4-26.

Lohynova, E. (2011). Metodolohyia otsenky ynnovatsyonnoho potentsyala setevoi эkonomyky. Modernyzatsyia. Ynnovatsyy. Razvytye. T. 2. № 3 (7). S. 46–51.

Marchuk, L. P. (2011). Zarubizhni modeli innovatsiinoho rozvytku ekonomiky: vybir dlia nasliduvannia. Ekonomika i rehion, 2, 200-207.

Morris L. (2013). How to Innovate: The Innovation Process. Available from : http://www.innovationmanagement.se/2013/08/08/how-to-innovate-the-innovation-process.

Naukova ta innovatsiina diialnist. Derzhavna sluzhba statystyky Ukrainy Available from : http://www.ukrstat.gov.ua.

Prokhorchuk, S.V. (2015). Innovatsiina spromozhnist ekonomiky Ukrainy v umovakh hlobalizatsii. Mykolaivskyi natsionalnyi universytet imeni V.O. Sukhomlynskoho, 7, 203-206.

Reillon, V. (2015). Overview of EU Funds for Research and Innovation. European Parliament, Brussels. Available from : http://www.europarl.europa.eu/RegData/etudes/BRIE/2015/568327/EPRS_BRI%282015%29568327_EN.pdf

Semenenko, O. H. (2019). Potentsial sfery intelektualnoi vlasnosti Ukrainy: stan ta napriamy rozvytku. Ekonomichnyi visnyk universytetu, 40, 54-64.

Shumpeter, Y. A. (1982). Teoryia эkonomycheskoho razvytyia. Moskva.

Tovmasyan, V., Pahoda, S. and Shlebat Al. Hakima (2013). Organizational-Economic Mechanism of Mechanical Engineering Enterprises Innovation Processes Investment Support. Efektyvna ekonomika, vol. 2, Available from : http://www.economy.nayka. com.ua/?op=1&z=3848.

Tyvonchuk, O. I. (2007). Finansovi metody stymuliuvannia innovatsiinykh protsesiv u promyslovosti. Visnyk NU «Lvivska politekhnika». Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku». Available from : http://ena.lp.edu.ua/ bitstream/ntb/33920/1/55_298-303.pdf.

Vasulushen, U., Kovalenko, O. and Svurudenko, O. (2016). Financial Instruments of Innovation Activity Stimulating of Small and Middle Business in Ukraine. Efektyvna ekonomika, vol. 12, Available from : http://www.economy.nayka.com.ua/?op=1&z=5333.

Wehrlé F., Pohl J. (2016). Investment Policies Related to National Security. A Survey of Country Practices / OECD Working Papers on International Investment. DOI : 10.1787/5jlwrrf038nx-en

Yehorov, I. Yu. (2016). Investytsiino-innovatsiina diialnist. Ekonomichna teoriia, 2, 106-117.

Zakharin, S. V. (2011). Investytsiine zabezpechennia innovatsiino-tekhnolohichnoho rozvytku ekonomiky. Kyiv.

Zakharin, S. V., Levchuk, N. I. (2015). Financing of Higher Education Development in Ukraine. Revue sociálno-ekonomického rozvoja,1, 54-61.

Zizlavskiy O. (2013). Past, Present and Future of the Innovation Process. International Journal of Engineering Business Management DOI : 10.5772/56920.


Abstract views: 63
PDF Downloads: 53
Published
2022-08-31
How to Cite
Zakharin, S., Romanovska, N., Venger, V., Ramskyi, A., & Chyzhevska, M. (2022). Stimulating financing innovative activity . Journal of Scientific Papers ʽʽSocial Development and Security’’, 12(4), 56-70. https://doi.org/10.33445/sds.2022.12.4.6
Section
Social Sciences