Promising areas of innovative development: financial aspect

Katsidym Andrii
postgraduate student, Department of Finance, Odesa National University of Economics, Odesa, Ukraine, E-mail:andrey7k7@gmail.com, ORCID: https://orcid.org/0009-0007-8680-6038

Cite this article:

Katsidym A. (2025) Promising areas of innovative development: financial aspect. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Innovacijnyj rozvytok v Ukraini: finansovyj aspekt; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 2 (327), pp.33-39.

Abstract

The article is devoted to the issues of innovative development in Ukraine. The purpose of the article is to study the indicators of innovation development in Ukraine and the directions and sources of financing of innovation activities. The following scientific methods were used in the course of the study: general scientific methods of cognition, the method of comparison, grouping and generalization, the method of analysis and synthesis, and the analytical and calculation method. The study revealed negative trends in innovative development in Ukraine: a decrease in the share of industrial enterprises that introduced innovations (products and/or technological processes) in the total number of industrial enterprises in the dynamics of previous years; a decrease in the number of industrial enterprises that sold innovative products (goods, services) that are new to the market in absolute terms; a decrease in the number of new types of machinery and equipment introduced at industrial enterprises. The carried out analysis of financial support for the innovation activities of industrial enterprises has shown that there are negative trends in the domestic economy in this area: during the study period, the volume of expenditures on innovation has been decreasing and that during the study period, the enterprises' own funds are the main source of financing innovation activities for industrial enterprises in Ukraine, etc. Conclusions are drawn about the need to form an effective mechanism for financial support of innovation activities of business structures in Ukraine. The main areas of such support include: optimization of funding sources; financial and economic measures of state regulation; use of tax benefits; attraction of external sources of funding, etc. Prospects for further research will include determining the importance and methods of state and regional institutions in the implementation of financial support for the innovative development of entrepreneurial structures in the strategic perspective based on international approaches and experience.

Keywords

innovative development, innovative activity, entrepreneurial structures, financing of innovations, sources of financing, financial mechanism.

JEL classification:G380; O330;DOI: https://doi.org/10.32680/2409-9260-2025-2-327-33-39

UD classification:330.3:336.1

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