INNOVATIVE ENTREPRENEURSHIP: CONTENT AND MAIN ASPECTS OF DEVELOPMENT

Abstract

In the conditions of rapid technological changes and global competition, innovative entrepreneurship is gaining priority. It helps business entities to adapt to new challenges, reduce risks and find new niches for development. This is especially important for economies seeking to achieve a high level of technological independence and sustainability. At the same time, innovative entrepreneurship is a powerful tool for social change, because it contributes to the development of human capital, the creation of new jobs and the improvement of the quality of life of the population. The development of innovative entrepreneurship requires a comprehensive approach, which includes not only funding and support from the state, but also the development of appropriate infrastructure, educational programs, and stimulation of scientific research. Thus, innovative entrepreneurship becomes one of the key elements of economic policy, which determines the strategic priorities of the country's development and forms the basis for sustainable economic growth in the long term. The development of innovative entrepreneurship depends on many factors. The latter can both stimulate and restrain the process of introducing innovations. It is important for business entities to take these factors into account when developing innovative development strategies. As practice shows, the main factors that prevent the effective development of innovative activity in today's conditions are the lack of funding and the lack of effective incentives for its development, the high cost of the necessary resources, their partial or complete absence, a high degree of risk of failure in the implementation of innovative projects, political and economic instability, rapid technological changes. For the successful management of innovative entrepreneurship, it is important for business entities to take these factors into account in order to minimize their impact. This can be achieved by combining the efforts of the scientific community, business structures and the state.