Abstract
The article discusses the results of a theoretical analysis of approaches to defining the concepts of “innovation” and “innovative development”. The authors proposed historical and economic approaches to the interpretation of the term “innovation”. These approaches identified three directions for considering the essence of innovative development: as a new stage of economic development, as a necessary element of economic growth, and as an obligatory element of economic development. The authors systematized the principles of innovative development and arranged them into three groups: general, specific, and interactive. In contrast to general and specific ones, the latter reflect modern trends in innovative development. The authors include the following interactive principles: activity, individualization, practical application and formative assessment. The article emphasizes that the dominant characteristic of innovative development is also its universality, i.e. innovatively in the modern economy, all industrial sectors will develop in different proportions.
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