FORMATION OF INSTITUTIONAL MECHANISM FOR ENTERPRISE INNOVATIVE ACTIVITY

  • N. Shtefan NTU "Dnipro University of Technology"
Keywords: institutional mechanism, human capital, technology transfer

Abstract

The lack of financing for innovation, low activity of enterprises, the inappropriate cost sharing between basic research, applied research based on the analysis of the number of innovative enterprises, sources of funding for innovation activities, as well as the cost of research and development by type of work have been analyzed in the article. This situation does not contribute to the innovative development of the country. In addition to the lack of funding for innovation in Ukraine, there are problems in implementing the results of innovation. The country needs to move from a model of innovative development called "technology-driven" to a "demand-driven" model that is applied in an open market economy and the innovation process begins not with research, but with the assessment of business opportunities and preliminary assessment of the product market. This model provides funding for priority areas for innovation rather than spending on many potential investment projects that may not even reach the marketing stage. Also, the key objective of innovative development is the effective use of knowledge generated through research. Therefore, technology transfer is one of the components of the implementation of priority areas of innovation. Universities should become a key part of the National Innovation System. Technical universities from a purely educational and research institution must become a source of innovation and innovative business, and become an entrepreneurial university. It is necessary not only to teach innovative entrepreneurship, but also to encourage the creation of their own startups. Improving the institutional environment by strengthening its components will allow to achieve a positive economic effect, which is manifested in the creation of organizational and economic conditions for effective competitive development of the country while maintaining human capital. The purpose of the study is to develop and improve the components of the country's institutional environment for effective competitive development while preserving and developing human capital as a driving force for changing Ukraine's place in the global distribution of economic forces.

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Published
2019-09-24
How to Cite
Shtefan, N. (2019). FORMATION OF INSTITUTIONAL MECHANISM FOR ENTERPRISE INNOVATIVE ACTIVITY. Economic Scope, (149), 87-93. https://doi.org/10.32782/2224-6282/149-14
Section
ECONOMY OF THE ENTERPRISE AND SPATIAL AND CLUSTERED BUSINESS