FACTORS OF THE COUNTRY’S INNOVATIVE DEVELOPMENT

Abstract

The article substantiates the factors of influence on the innovative development of the country, considers methods for assessing the level of innovative development of the country and analyzes the international experience of supporting and stimulating the innovative development of leading countries. World experience proves that the key to innovative development is state support, which is carried out through a system of specific levers for implementing the policy of developing the country's innovative potential. We consider economic, legislative and organizational factors among the main factors of such a system. Of the five international rankings, special attention is paid to the global innovation index, which covers all spheres of the country's economy and is indicative in the study of the level of the country's innovative development. The rating and the effectiveness of innovative activities of Ukraine in 2019-2020 are characterized. The growth in research and development costs is embodied in the increase in new types of goods, technologies, and the acceleration of their appearance on the markets, which allows the business to receive additional profits. For this reason, the most important source of funding for scientific projects, research and technical development of the business, the entrepreneurial structures themselves. Undoubtedly, other sources of funding for research and development are also used: allocations from the budget, various options for combining allocations from the budget and funds from universities, private enterprises, foreign customers, etc., but the largest share of all sources is allocated by business structures. The ways of strengthening the influence of innovative factors on the development of the Ukrainian economy are proposed, including: the formation of a favorable institutional environment for the development of innovative and technological activities; an increase in the total amount of appropriations for research and development; strengthening the role of business in providing financing for scientific, technical and innovation processes; building a national innovation system aimed at increasing innovation and efficiency of the Ukrainian economy; creation of an effective mechanism for stimulating and public recognition of research and innovation activities at all levels of the national innovation system.