THE INNOVATIVE POTENTIAL OF THE REGION THROUGH THE PRISM OF THE SUSTAINABLE DEVELOPMENT COMPONENTS

Abstract

Abstract. The purpose of the article is to determine the importance of innovative development of the region through the prism of the components of sustainable development of cities: economic, social and ecological. The innovative potential of the region through the strategy of sustainable development under the conditions of maintaining a harmonious balance between economic, social and ecological components has been studied. The main modern aspects of the implementation of innovations in the Strategy have been updated. For EU countries, the implementation of the Sustainable Development Strategy is mandatory and one that requires constant changes in accordance with the transformational processes in society, the environment and the country’s economy. The international standards and provisions of the current legislation of Ukraine on the specifi ed issues have been analyzed. It is proven that the analysis of the level of innovation implementation must be studied at the regional level. It is proven that the analysis of the level of innovation implementation must be studied at the regional level. It is determined that Based on the experience of the EU countries, Ukraine formed its own Strategy, which is based on a SWOT analysis and an analysis of policy gaps, legislative acts, programs and plans in eight spheres of activity: economy, social policy, nature use and environmental protection, agriculture, energy, transport, regional and local development, education and science. The Development Strategy of the city of Kremenchuk for the period until 2028 has been analyzed and innovative aspects have been determined in terms of three components: economic, ecological, and social. The importance of introducing innovations into the strategy of sustainable development at the regional level is substantiated. Monitoring of modern trends in the innovative development of cities was carried out. During the research, scientifi c methods were used: theoretical generalization, analysis and synthesis, comparison, scientifi c abstraction. A further promising direction of research is the examination of innovative technologies and the impact of digitization on the sustainable development of the region, as well as the study of best practices of sister cities of EU countries to borrow positive best practices in the fi eld of digitization and smartization. Keywords: sustainable development strategy, innovative development, regional development, economic innovations, ecological innovations, social innovations.