Innovation as a Key Driving Force of Ukraine's Economic Development in New Conditions

Abstract

The article substantiates the role of innovation as one of the key drivers of Ukraine's economic development in the new conditions dictated by the war and integration with the EU. Based on a review of leading international ratings, the author analyses the state of Ukraine's innovation activity before and during the war. The strengths, weaknesses, threats, and opportunities in Ukraine's innovation sector are identified. The results showed a deterioration in Ukraine's innovative position in international rankings, mainly under the influence of the war. The changes in the key indicators of innovation activity in Ukraine from 2010-2021 are analysed. The results show a downward trend in most of Ukraine's innovation indicators over the period analysed. The identified problems in Ukraine's innovation sphere are primarily related to the state's need for a more effective innovation policy. The main directions for improving Ukraine's innovation policy in the new conditions are identified based on the obtained results. The author identifies key promising areas for Ukraine’s innovation development in the new conditions.