Bìznes Inform (Apr 2018)
The Financial Aspects of Implementation of Ukraine’s Innovation Policy
Abstract
In the conditions of economic competition in the world markets, only those countries, which are providing favorable conditions for the scientific-technical and technological development, can become the winners. Strengthening of the role of the State stimulation of innovation implementation is caused by the existence of objective properties inherent in innovation processes. They are quite risky and capital-intensive, are determined by the level of development of the scientific environment in the country along with information infrastructure, are associated with the uncertainty of the results of their commercial implementation. The State support of innovative activity will allow to get profits from monopoly use of new technologies, therefore it is important to define priority directions of its financing. However, the analysis of financing of innovative activity on strategic priorities has displayed imperfection of the State innovation policy. In particular, there are significant delays in financing new technologies of materials production, creation of the nanomaterials and nanotechnologies industry. A conclusion has been made that the adoption of a complex of the governmental measures to concentrate resources on the strategic directions of innovative development would allow the transition to a new technological level.
