Significant Aspects of Establishing Policy in the Field of Innovative Entrepreneurship in the Context of the Socio-Economic Development of Ukraine's Regions

Abstract

The content of the article actualizes a number of important issues as to provision of policy in the sphere of supporting innovative entrepreneurship. In the course of their study, the authors note that the socio-economic development of countries is influenced by the degree of innovativeness of the economy. This encourages to consider innovative entrepreneurship as an important resource for the development of innovative processes in the country, and the support of innovative entrepreneurship is considered a key factor in solving the main problems of sustainable socio-economic development of the regions of Ukraine. The country has a fairly strong base for scientific and technical developments, a powerful innovation potential, but there are problems with implementation of the latter due to insufficient focus on the formation of an effective innovative policy and the policy of development of small and medium-sized enterprises (SMEs), which are the main suppliers of innovations in the national innovation system. The results of the study draw attention to the feasibility of integrating innovative policies with the corporate social responsibility development policies and the SME development policies. An integration will allow achieving greater economic return and social benefits through the implementation of a more efficient relationship between the providers of socio-economic development of region on the organization and provision of opportunities for the development of complex regional, interregional and global value-creating networks. This approach also involves taking into account the factors influencing the innovation dynamics with the constant improvement of the system of formation and implementation of the State and regional priorities in the field of regulation of science, investment, innovation, entrepreneurial and socially responsible activities, in accordance with the implementation of the principles of sustainable development.

Keywords

• innovations
• innovative entrepreneurship
• socio-economic development of region
• innovation policy
• corporate social responsibility