Abstract
The article outlines and motivates the key role of smart specialization in the formation of an effective business environment in the regions based on innovative development. The scientific approaches to the processes of introducing innovations into the economy of the regions are considered. It is argued that an important role in the development of regions is played, in addition to business, by two elements that are outside the market sector: the government and the field of science, which are components of the business environment of the region. Five main obstacles that impede the process of smart specialization on the path of innovative development of the business environment of the regions of Ukraine are highlighted: these are classic resistance to innovation, the characteristic unpredictability of the results of investments in scientific developments, tough tax conditions, inefficient state and regional policies to support innovation, rejection (there is only an exception IT technologies) business incubation institutes, business accelerators, technology platforms and cluster development principles . A vision of the zone of effective innovation based on the smart specialization of the regions has been formed.
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