Tools for innovations and "knowledge triangle” financial backup improvements on a regional level

Oksana Hennadiivna Chubar, Stepan Vasylyovych Sember, Tetyana Vasylivna Matyovka

Abstract


The paper covers theoretical and practical aspects and features of implementation of financial instruments of innovative processes support. Topic selection was dictated by the need to find financial resources for technology transfer and innovation commercialization, which become especially urgent nowadays on mezolevel in particular. Right at this level a real “knowledge triangle” works as a driving force of an innovation development and its pivots interact (education, science and business (innovation)).Analysis of actual results of current conditions in the sphere of innovations and functioning of “knowledge triangle”, conducted by leading scholars on a state level, allowed to outline the problems that greatly limit the scale and intensity of “knowledge triangle”, due to which it is hard to provide any major qualitative changes in its pivots and communication links between them.Authors explore the implementation of program-targeted method in Zakarpattya, as well as provide the assessment of State fund of regional development (SFRD) activity from the standpoint of its potential impacts on innovative processes. It was concluded, that the innovative aspect of regional economy development is presented in the Program for small and middle businesses development on 2017-2018, which is aimed on innovation-oriented small and medium businesses support with emphasis on financial instruments and financial resources for the planned measures in innovative direction. Program and measures, funded by SFRD, include no innovative aspect.Despite all the advantages of the program-targeted method, its innovative aspect is very limited on a regional level. Currently there is no integrated program or strategy of innovative development with clearly defined sources of financing in Zakarpattya.Special attention is paid to the necessity to expand the set of financial instruments of “knowledge triangle” support by means of up-to-date approaches: crowdfunding, innovation platforms, agrarian receipts and endowment.


Keywords


financial instruments, innovative activity, “knowledge triangle”, program of regional development, crowdfunding

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References


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DOI: https://doi.org/10.15407/econindustry2018.02.005

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