ВЕНЧУРНЕ ФІНАНСУВАННЯ ІННОВАЦІЙНОЇ ДІЯЛЬНОСТІ

Анотація

Urgency of the research. High risk level at capital investments in innovative projects considerably limits access to traditional sources of financing therefore the preference is given to such form of investment as venture capital financing. Target setting. Underdevelopment of the domestic market of venture investment causes need of direction finding of its activation for ensuring economic growth and competitiveness of national economy. Actual scientific researches and issues analysis. Scientific works of such Ukrainian scientists as V. Hlushchenko, L. Dmytrychenko, P. Kovalyshyn, O. Kolesnyk, N. Kraus, O. Kuzmin, S. Onyshko, D. Ryzhakov, V. Savchenko, O. Shevchenko, etc. are devoted to a research of theoretical and practical aspects of venture capital financing of innovation activities. Uninvestigated parts of general matters defining. The need of improvement of venture capital financing system as instrument of state regulation of innovation activities is urgent today. The research objective. Recommendations for government support of venture capital financing of innovation activities are elaborated in the article taking into account current trends of the Ukrainian and world venture market development. The statement of basic materials. The essence of venture capital financing of innovation activities is defined in the article and the characteristic of development stages of the innovative companies which attract venture capital financing is provided. The current state of the domestic market of venture investment is investigated and proposals for its activation are formulated, in particular by increasing the role of the government support of venture capital financing. Conclusions. Complex realization of actions for improvement of venture capital financing system as part of government innovation policy will allow solving problems of venture business financing and providing development of national economy.

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