The Role Of Venture Capital in The Development of Innovative Business

Abstract

The scientific article discusses the essence and importance of venture capital in the development of innovative business. Venture capital is the capital born in high-risk projects and is designed to finance innovative productions and is associated with a fairly high risk. In case of successful implementation of these investment projects, venture capital is a "golden vessel" for its owners to make huge profits. Venture capital can have a significant impact on a country's economy. We can say that this is a unique field, the development and perfection of which contributes to the growth and development of a number of sectors of the economy. The experience of the US and European countries in the field of venture business development is discussed, that the venture business has facilitated the transition of the world's leading countries to the post-industrial phase of development. It is noted that Georgia is a preferred market for venture capitalists, but unfortunately this type of business does not actually exist, as we do not have experience working with new technologies and risky investments, as well as financial infrastructure. This is partly due to the fact that today’s institutional organizational structures, as state representatives in the field of science and technology, are unable to meet modern requirements. It is necessary to develop the stock market, to create and enter venture firms, which will include experienced scientists, engineers, inventors, innovators, whose deficit, fortunately, Georgia does not suffer. Keywords: Innovative, Venture, Progressive, Investor, Corporation, Sapaio, Intellectual, Business Incubators, Techno park.