Venture industry in Ukraine: state, problems and ways to solve them

Abstract

Venture capital is a recognized and effective form of activity in the world, aimed at intensifying the processes of innovation. Venture entrepreneurship in Ukraine is not a widespread activity, however, we observe positive dynamics of development. The state and trends of venture activity in Ukraine during 2015–2021 are analyzed. According to the results of the analysis, we note an increase in the number of registered mutual investment institutions (MII); increasing the concentration of CII in the venture asset management market. The number of asset management companies (AMCs) during 2015–2021 is relatively stable. We state a stable positive trend in the number of functioning MII that have reached the standards. The same trends regarding the number of venture MII. The share of venture MII in the total number of MII is about 90 %. The positive value of more than twice the total value of assets of all venture MII during the period under study is positive, however, their effectiveness, taking into account inflation, etc., is not so encouraging. Measures are proposed to stimulate the development of the venture industry, intensify investment and innovation activities, in particular, to improve the regulatory framework for venture capital; increasing the efficiency of the stock market of Ukraine; introduction of incentives for the development of venture business in the field of innovative projects; solving problems related to the protection of intellectual property rights by regulating these processes, developing and implementing a mechanism for regulating and controlling the results of intellectual activity, as well as the introduction of a system of measures to spread the culture of recognition and use of intellectual property; recognition of the value of intellectual business products in Ukraine.

Keywords

• venture industry
• venture capital
• venture funds
• asset management companies
• innovation