Abstract
AbstractPurpose: The purpose of the research is to study the economic development of the territory and to justify the need to develop a model for the effective functioning of a regional innovation system that meets the modern conditions of digitalization.Design/Methodology/Approach: The research methodology is based on the principles of territorial development through the formation and effective functioning of a regional innovation system in the digital economy. This research is aimed at observing a system of principles that contribute to the economic development of the Territory. The work proposes a methodological approach to the functioning and development of a regional innovation system, which allows it to be adapted to the conditions of digitalization.Results: The expediency of forming a regional innovation system lies in the fact that it serves as a driver of growth of economic, production and innovative indicators of the efficiency of the territory in the conditions of digitalization. The innovation system within the region’s economy creates infrastructural linkages that enable the generation, dissemination and application of new technologies and innovations.The results of the research will contribute to the economic development of the territory in modern conditions of digitalization.Conclusions: According to the authors, the formation of a regional innovation system for the development of the territory is advisable and effective during the period of digital transformation. The relationship between the economic development of the region through the functioning of the innovation system is based on the proposed system of principles.The regional innovation system allows efficient implementation of the processes of generation, transfer, diffusion and commercialization of new technologies, taking into account the potential of the territory and inclusion in innovative processes.KeywordsInnovationRegion developmentRegional innovation systemInnovation infrastructureDiffusion of innovationTransfer of innovationDigital economyDigital technologiesJEL CodeD51O14O18O32O33P43R11R12R13
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