Organizational and Economic Mechanisms to Support Innovative Development at the Regional Level

Abstract

Topicality. One of the problems of the state innovation policy in Ukraine is the abolition or suspension of financial privileges for the subjects of innovation activity due to the lack of transparency of the mechanisms of their distribution. However, complete rejection of state financial support o innovation, that is one of the most widespread instruments of innovation policy in the world, does not correspond with the interests of innovative development of the state. As a solution of this problem at the regional level could be the mechanism of financial support for innovative projects on a competitive basis. Aim and tasks. The purpose of the article is to develop organizational and economic mechanisms of innovative development at the regional level and to discover the source of formation of their financial support. Research results. The article proposes a mechanism for competitive selection of innovative projects to receive funding from local budgets, which, unlike the existing ones, is as transparent as possible, ensures competitiveness among applicants and takes into account the priorities of innovative development of a particular region through the following procedure: the committee for selection of innovative projects is formed on the principles of participatory involvement of representatives of all stakeholders - authorities, business, science, education, community, determines the terms of competition and announces the competition; the competition is open to anyone who has ideas on the announced theme; the selection procedure occurs with maximum transparency and the announcement of the criteria, the selected projects receive funding from the local budget at the expense of the development budget; audit. It is envisaged that economic support for the competitive selection of innovative projects is carried out on the basis of partnerships and financial support from local budgets. The following mechanisms have been proposed: public-private partnership financing through equity participation; granting tax exemptions for other taxes paid to regional budgets; investment-oriented tax benefits, which provide for the exemption from income tax on the financial results of enterprises that are not withdrawn from business and reinvested in innovative projects. Conclusion. Implementation of the proposed mechanisms will ensure transparency of the project selection process, competitiveness among applicants, financial support from different sources and taking into account the priorities of innovative development of a particular region.

Development of Aquaculture in the Ukrainian Black Sea Region: Organizational and Economic Measures and New Approaches

“…Providing access to information, developing educational programs, and enhancing personnel qualifications are important components of this process. The formation and implementation of an information strategy involve the detailed description of innovations, promotion through the media, and the development of digital tools [1,2].…”