Abstract
Abstract. The article describes the dynamics of Ukraine’s position in the Global Innovation Index for 2015—2019. It is revealed that the domestic economy has a high educational and scientific potential, is able to produce various innovations in the form of ideas, scientific developments, patents; the bottlenecks of Ukraine in the state of innovative development are the state of cluster development, the share of foreign direct investment in GDP, the online service of the government, the use of information and communication technologies, the availability of joint agreements on strategic alliances, the state of domestic lending to the private sector, the export of goods of the creative economy, the volume of microfinance loans, the presence of firms offering formal training, the state of cooperation between universities and production, agreements with venture capital. It is proved that the problem of improving the financial mechanism for ensuring innovation processes in the economic system of Ukraine requires a priority solution. Developments on increasing the innovative component of increasing Ukraine’s international competitiveness are impossible without adequate financial support. The article examines the foreign experience of state support for innovation activities. It is revealed that in developed countries — the world’s leading innovation leaders, public policy provides for direct funding of scientific research and through tax measures encourages private sector R&D spending. The concept of financial support for increasing the innovative component of Ukraine’s international competitiveness, which should be implemented at the strategic, tactical and operational levels, is proposed. To ensure a sustainable level of international competitiveness of the country through increasing the innovation component, it is important to implement a system of measures to monitor threats even at the stage of their origin and prevent the spread of their negative impact. Therefore, the methods and tools for implementing the proposed concept contain components of threat prevention: economic (tax incentives; transfers ;direct budget investments; grants; concessional lending; cooperation with foreign institutions, etc.), organizational (development of innovative infrastructure; consulting assistance; personnel support; creation of clusters using the potential of education, business, government, public; creation of regional clusters with innovation and industry production, etc.), institutional (techno parks, business incubators, analytical centres, etc.), regulatory (strategies, concepts, plans, programs) and social levers (conducting business trainings, implementing joint social projects, etc.). Keywords: innovation, Global Innovation Index, financial support for innovative development, international competitiveness, cluster. JEL Classification O11, O19, O16, O33, E62, F20 Formulas: 0; fig.: 2; tabl.: 2; bibl: 16.
Highlights
In the context of increased international competition, constant modernization of equipment and technologies, and increasing the role of partnership, innovation is an important factor that can ensure the efficiency of the economic system
It is obvious that the development of technology and the knowledge economy is at the heart of domestic innovative international competitiveness
Increasing the innovation of the country’s economy in the modern globalizing conditions of world economy development is of exceptional importance, because countries with a low level of investment in innovation have a relatively low level of economic development and, belong to the third world countries
Summary
In the context of increased international competition, constant modernization of equipment and technologies, and increasing the role of partnership, innovation is an important factor that can ensure the efficiency of the economic system. The global innovation system is currently characterized by increased dynamism: the intensity of innovation processes increases, the period for creating innovations is reduced, the range of subjects of innovation activity is expanded and their functions are modernized. Activation of the innovation process is an important factor in shaping the innovation policy of any country, in particular those that are trying to overcome negative trends in their development and reach a qualitatively new level of competitiveness in general and international in particular. Solving the issue of organizing and implementing the innovation process at the state level involves creating an effectively functioning and optimal management system. Based on an intensive innovation process can the national economy of Ukraine ensure the development of import-substituting and export-oriented production
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