PRIORITIES FOR THE DEVELOPMENT OF INNOVATION ACTIVITY IN THE CONTEXT OF REINDUSTRIALIZATION OF UKRAINIAN ECONOMY

Keywords: innovation activity, reindustrialization of economy, intellectual property, commercialization, innovation infrastructure

Abstract

The paper provides comprehensive analysis of the nature, types, features and role of innovation activity in the reindustrialization of the economy, as well as key problems and priorities of its development in Ukraine. The essence and importance of innovation activity in ensuring sustainable, unhindered development of the national economy are determined. The main functions of innovation activity that characterize its role in the reindustrialization of Ukrainian economy are analyzed including reproduction function, capitalization function, transformation function and stimulation function, which implies that introduction of innovations in commercial activity promotes technological renewal of production, as well as economic profit generation through the creation and sale of innovative products. Key types of innovation activities and their relationship with the commercialization of intellectual property are studied. Authors proved that during the reindustrialization of economy commercialization becomes a catalyst and primary cause of innovation activity, ensuring transformation of intellectual property into intangible assets of innovative companies and playing a key role in the development and stable functioning of the entire innovation system of the country. The current state and peculiarities of innovative activity of Ukrainian enterprises are analyzed. The results of the study had demonstrated that insufficient state support and relatively low level of funding for scientific and technical activity in Ukraine, as well as the lack of effective mechanisms for intellectual property commercialization result in low levels of innovation activity of Ukrainian enterprises. Priority directions of development and tools of state support of innovation activity in the context of reindustrialization of economy of Ukraine are investigated including formation of an innovation ecosystem that includes science parks, business incubators, technology transfer centers, and introduction in Ukraine of an effective system of fiscal preferences and mechanism of bank lending and project financing for innovative enterprises.

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Published
2022-04-26
How to Cite
Volodymyr, V., & Virchenko, V. (2022). PRIORITIES FOR THE DEVELOPMENT OF INNOVATION ACTIVITY IN THE CONTEXT OF REINDUSTRIALIZATION OF UKRAINIAN ECONOMY. Economy and Society, (38). https://doi.org/10.32782/2524-0072/2022-38-10
Section
ECONOMICS