SYSTEMIC FEATURES OF INNOVATION DEVELOPMENT IN THE USA

Abstract

Due to the importance of innovations as a factor for economic growth and competitiveness, ensuring their sustainable development is a universal task for the country. The most intense race for innovation is observed among countries striving for global dominance. This article is dedicated to the study of the specific features of innovation development in the United States, where innovative potential has become one of the cornerstones of their economic strategy and a key driver of their success. The United States has significant distinctions from other countries in terms of culture, institutions, economic organizations, economic regulation, etc., which together create the basic conditions for innovation and require consideration. The focus on innovation development in the United States is driven by intensified competition with other global players, particularly from China. The main goal of the research is to summarize and characterize the systemic features of innovation development in the United States, as well as to identify the key factors intensifying innovation productivity in the country. The study of the systemic features of innovation development in the United States covered the analysis of 1) civilizational factors; 2) institutional system; 3) economic system; 4) innovation system; 5) state innovation policy. The main factors intensifying innovation productivity in the United States were identified as the combination of entrepreneurial and large-scale capitalism, venture capital investment, and territorial agglomerations of innovative structures. The need to consider the peculiarities of innovation generation in the military sector, universities, and non-profit organizations has been justified. The strength of the United States innovation system has been statistically demonstrated, however, the increasing competition in science and innovation from China has been confirmed. This has led to the intensification and change in the type of state innovation policy in the United States, with a focus on targeted support for innovation in industry in the context of the green transition.

Keywords

• the United States
• innovations
• civilizational factors
• institutions
• economic system
• capitalism