DIRECTIONS OF INCREASE OF EFFICIENCY OF THE STATE POLICY IN THE FIELD OF INNOVATION DEVELOPMENT OF ENTREPRENEURSHIP IN UKRAINE

Abstract

The article is devoted to search of effective ways of activization and increase of efficiency of the state policy of Ukraine in the field of stimulation of innovative development of the economy. Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome. In business and in economics, innovation can become a catalyst for growth. An analysis of the implementation of legislative acts in the field of innovative development of the Ukrainian economy is conducted. Over the past three decades the systems of innovation (SI) approach to innovation and economic development has gained prominence in both the academic and policy spheres so that it is now a dominant lens through which we examine innovation processes and dynamics, and is an influential best practice framework for innovation policy. An innovation system consists of elements and relations that interact in the production, diffusion, and deployment of new and economically useful. Knowledge the current economic mode is that of a knowledge economy, and it is knowledge and learning that underpin innovation processes. The experience of developed countries in the field of state incentives for introducing innovations in the private and public sectors and the possibility of introducing such mechanisms in Ukraine are considered. Attention is paid to the importance and impact of globalization processes on the economy. On the basis of analysis of the main achievements in the field of innovation policy in Ukraine, comparison with the policy of developed countries, a number of proposals are being made to improve the innovative level of entrepreneurship through state regulation, taking into account current challenges. For the most effective economical potential, it is necessary to form and integrate it into a national innovation system.