MODERN THEORETICAL AND PRACTICAL TRANSFORMATION ASPECTS OF STARTUPS ACTIVITY

Анотація

The article discusses and summarizes the modern theoretical and practical transformational aspects of startups. Authors` attention is paid to the analysis of approaches of determining the startup by foreign and domestic researchers, which take into account at least three criteria, and it is mentioned that either quantitative or qualitative parameters of most of these definitions should be clarified. The authors identify the key transformational aspects of modern startup activities, among which thre are the implementation of completely new innovative solutions and existing advanced innovative technologies in the field of artificial intelligence and big-date; creation of highly skilled jobs and priority of innovative development and growth over short-term profits; attracting grant and investment funds to implement a startup idea. An analysis of the geographical and sectoral development of startups is conducted: leading countries in the number of startups for several years are the USA, India and the UK; the largest share of startups is concentrated in the information and communication technology sector and services. Authors also highliged the key activities of startups in the EU and US markets – the creation and sale of intellectual property and the provision of various services oppositing to the development, creation and sale of physical items, as well as key ambitions of startups focused not on maximizing short-term profits but on business scaling and promising innovative development. The key obstacles to the startups effective and fast development are also identified: uncertainty and variability of the market environment, the difficulty of attracting external financing, the effectiveness of the system of regulation and support of business, knowledge and competence of staff, the markets size. The generalization of modern theoretical and practical transformational aspects of startups provides a basis for further theoretical and practical developments in this areas as the researches on the development of startups both within Ukraine and in the global arena today is extremely actual.

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