SOURCES OF FINANCING INNOVATIVE ACTIVITIES IN UKRAINE

Abstract

Currently 2015 innovative development of innovative activity engaged in only 17.3% of the total number of industrial enterprises with the average number of employees 50 people or more. Most enterprises in dire need of capital to accelerate the innovation process. This requires systematization of possible funding sources and study their possible involvement.

Stimulate investment in the country and economy, the use of innovative advanced technologies, the transition to high-tech products cause reorientation of existing enterprises to innovative way of development, which requires additional attraction baskets. Effective innovation will encourage involvement in the scientific field of private and venture capital and form the sustainable economic development entities.

Conducting effective innovation requires significant financial investments. Therefore, become especially important sources of research funding innovative development entities.

The results of the study found that for the innovation necessary to use different sources of funding, as each has its advantages and disadvantages. However, a crucial role in the sources of financing innovation enterprises play their own financial resources. This result is useful for future changes of Ukrainian economy. State aid is small in proportion dimensions that negatively affects the development of innovation in our country. In contrast to the state, essential in providing innovative financial processes started to play private foreign investors and venture funds. Despite the intensification of these agents in the financial market of Ukraine, the largest source of financing innovation remains low.