VENTURE INVESTMENT AS A MEAN TO STIMULATE THE IMPLEMENTATION OF INNOVATIONS AT THE ENTERPRISES

Abstract

The article considers the expediency of transition to an innovative type of economy at the expense of the development of small venture enterprises. The venture industry, which became the main source of funding for innovative projects in the mid-twentieth century. in the United States, it is by far the main lever for financing companies involved in the implementation of high-risk innovation projects. During the last 70 years in the United States, a significant number of emerging technology start-ups have been invested in venture capital. For example, these were such famous projects as America Online, Amgen, Apple Computer, Cisco Systems, Compaq, DEC, Federal Express, Genentech, Intel, Lotus, Netscape, Oracle, Seagate, Sun Microsystems, 3Com, Yahoo and numerous other companies. With this approach, new industries such as biotechnology, genetic engineering, semiconductor materials production, database development and software development, the Internet, hard disk drives, microcomputers, mobile phones, the IT sector, etc., have evolved. Thus, venture capital has become an important part of the US national innovation system and has helped the United States to dominate the global economy.The purpose of the article is to study the features of the process of attracting venture capital to Ukraine, as well as the problems that may be faced by modern business.The venture financing process involves a combination of start-up capital and management experience of venture investors. While banks only monitor the financial condition of the business to which they have lent, venture investors, in addition to their financial status, constantly monitor and actively participate in the choice of strategy and decision-making process for one or another direction of enterprise development. Therefore, venture capital is inherently a strategically important element in the development of the country’s economy.The article gives an example of the development of venture financing in economically developed countries. The typical problems that venture capital investors face in the process of providing start-up capital are identified.