Stimulating financing innovative activity

Abstract

Purpose: The aim of the study is to analyze investment activities in Ukraine to determine effective mechanisms and incentives for financing innovative activities. Design / Method / Research approach. In the national economy of Ukraine, effective models of financing innovative activities, favorable for enterprises that introduce innovations, have not been created. Carrying out innovative activity, which is highly risky and does not always enable to plan profit amount, requires the use of financing flexible forms. Currently, there is no solution to individual issues of strengthening the positive impact of state financial policy on the innovation development in industry, funding sources optimization for innovation. In this regard, it is necessary to clarify the scientific provisions on the substantiation of mechanisms for stimulating the innovative activities financing as an important element of the national economy development state regulation. Research results. The trends of innovative activity in terms of its financing sources have been analyzed. The problems of organizing the industrial enterprise financing have been highlighted. Prospective ways of solving the problem of financing innovative activities volume increasing and structure improving have been presented. It is necessary to transform the depreciation, budgetary and taxation, credit, technical and technological, foreign trade policy. Theoretical value of research. It is proposed to modernize the methodological foundations for the targeted comprehensive programs development, implemented in the innovation sphere, which should consider the possibilities of using the appropriate instruments inherent in different areas of public financial policy, primarily budgetary and taxation. Practical value of research. In order to stimulate innovative activities financing, it is necessary to introduce public-private partnership instruments. Various instruments can be used to solve the problem: direct government funding, government guarantees provision, joint (with a private partner) entrepreneurship (with or without a creation) on the basis of an open transparent tender. Further stimulation of conscientious venture business is advisable. Originality / Value of research. The research is an original result of scientific work carried out by the author's team. Research Limitations / Future Research. It is advisable to stimulate a conscientious venture business, which inherently tends to the implementation of innovative activities. The tools for the administration of intellectual property recognized by the world practice should be introduced. Type of article: theoretical.

Keywords

• financing
• innovation
• innovative activity
• industry