Y.Kusakova, L. Khudoliei. Mechanisms to stimulate innovation at the regional level.

Abstract

The article is devoted to the analysis and improvement of existing mechanisms to stimulate innovation at the regional level. The author's vision of the definition “organizational and economic mechanism of innovation activity in the region” is presented. The principles on which this mechanism should be built, its structure, are defined as the interrelation of the functional subsystem, the support subsystem, economic levers and processes. The components of the functional subsystem are also characterized. The proposed organizational and economic mechanism for stimulating innovation, unlike the existing ones, includes the activities of business incubators, as the main organizational entities which create opportunities for the implementation of innovative start-ups. The non-linear nature of the process of generation, emergence and development of innovations in the region is revealed with the help of “mutual amplification circuits”, “limitation circuits”, “closure circuits”, “time delay problems”, and “selection tool”. The mechanisms for transferring innovative potential and resources available in the region to innovative products, mechanisms for bringing these products to the market have been processed. A mechanism for the functioning of the sequence method is proposed, which solves the problem posed. It has been proved that it is advisable for business incubators to use tools for stimulating innovation activity and methods of its practical implementation for the primary assessment of innovative ideas. It allows assessing the possibilities of the market and business, the degree of substantiation of the idea, the availability and availability of resources for its implementation, user requests and prospects for patenting the idea. An improved algorithm for the implementation of an innovative idea provides for the sequential implementation of the following steps: formulation of a business idea, evaluation of the idea, evaluation of the results, evaluation of the prospects for the implementation of the idea.