TERRITORIAL INNOVATION CLUSTER AND SUSTAINABLE ECONOMIC DEVELOPMENT OF REGIONS

Abstract

The article reveals the essence of territorial innovation clusters, outlines its features and types, shows the importance of clusters for increasing the innovative potential of regions and ensuring the development of the regional economic system. The borderline and global nature of the economy, the strengthening of innovative directness of economic processes in the minds of the transition to the fifth and sixth technological structures are being created before the power, on the one side, possiblity, and on the other side there are new problems of achieving a long-term dynamic and high level of living standards for the population. In such minds, one of the key strategic tasks of the state is to ensure stable, balanced development of its regions. The sustainable development of the region's economy is directly aimed at achieving the goals of social justice, economic efficiency and environmental safety. Innovative territorial clusters are one of the effective tools for achieving the goals of economic development both in the region and in the state. The purpose of the research is to clarify the conceptual provisions for ensuring sustainable development of the regional economy based on territorial innovation clusters. The theoretical methods of research - abstraction, generalization, systematization were used in order to solve the task. The formulation of the concept of a territorial innovation cluster is proposed taking into account its characteristics, such as functions, features of the mechanism of formation, spatial characteristics, specific properties, implementation conditions, evaluation criteria and efficiency. Four key attributes of a territorial innovation cluster: high-tech, innovative, systematic and strategic were highlighted. Common features of territorial innovation clusters were summarized, as well as their distinguishing features from other types of cluster structures were distinguished. The essence of territorial cluster effects was revealed. The results can be used as recommendations for regional authorities when forming target indicators and assessing the results of cluster policy to ensure sustainable development.