TOOLKIT FOR ASSESSING THE INVESTMENT ATTRACTIVENESS OF INNOVATIVE PROJECTS FOR THE DEVELOPMENT OF STRATEGIC TYPES OF INDUSTRIAL ACTIVITY
Abstract
The article is devoted to the topical issues of evaluating large investment projects for the development of industry on an innovative basis. The purpose of the article is to research approaches to assessing the investment attractiveness of innovative projects for the development of strategic types of industrial activity. Methods of systemic and historical-logical analysis, structural-functional analysis and statistical comparisons were used. The article reveals the features of assessing the attractiveness of innovative projects for the state, domestic and foreign investors. It was revealed that the attractiveness of innovative projects for the state lies in the possibility of forming an innovative foundation for the development of the economy on an innovative basis. For domestic and foreign investors, unlike the government, the priority when investing in innovative projects is: obtaining a profit from the investment, generating a net profit in the long term, a low level of risk of losing invested funds, guarantees of the government, funds or insurance companies in the preservation of investments. The global experience of project evaluation is summarized, in particular the provisions of Regulation (EU) Nо 1303/2013 of the European Parliament and the Council of 17 December 2013 (as amended from 03/01/2023); and an analytical tool – cost-benefit analysis. A comparative analysis of indicators for assessing the investment attractiveness of innovative projects using different approaches showed that no criteria have been defined that explain the attractiveness of unique innovative projects with significant investments. To solve this problem, temporarily (until a single methodological approach is agreed upon), a corrective factor can be applied to increase economic benefits by 10% of the initial cost of the investment project (as unforeseen benefits from research and the introduction of innovations into production). A toolkit for assessing the investment attractiveness of innovative projects has been developed. Proposals for improving the methodical support for evaluating projects with significant investments in terms of supplementing the cost-benefit analysis procedure with a mechanism for taking into account the benefits of projects investing in research and innovation are substantiated.
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