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FINANCING INNOVATION: OPPORTUNITIES AND LIMITATIONS
Abstract
Despite the steady growth of innovation activity enterprises in the global competition, they have difficulties in financing innovation. What are the opportunities and limitations for financing innovation enterprises development and what type of financing is most appropriate? The study defines these two issues as the most important to determine the innovation and investment strategy of the states and enterprises. To solve this problems the state strategy of the enterprises innovative development should focus on facilitating increased investment in the share capital through the public-private venture capital funds, as well as direct public funding through grants and public contracts. In addition, the government is required to promote the development of new ways of financing innovation without compromising on debt risks. In turn, the innovation and investment strategy of the enterprise should be focused on optimizing the quality of innovation and their social relevance and accessibility.
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References6
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