Issue: № 12, 2021
Doi: https://doi.org/10.37634/efp.2021.12.4
Sustainable development of the country's economy depends on the level of innovation of each enterprise. Enterprises have an unsatisfactory level of innovative development and their strategies do not meet the goals of sustainable development, which is a consequence of many years of erroneous approaches to the management of enterprises and the country's economy. In modern conditions, venture investment is able to overcome the negative trends caused by insufficient funding, low level of interest of business management in innovations with a high level of risk. The paper substantiates the relevance of attracting venture capital for the development of innovative activities of enterprises. It is analyzed how venture investment differs from the usual. The current state and trends of venture investment in Ukraine have been carefully studied. Problems and obstacles to the functioning of the domestic venture business have been identified. Based on the obtained research results and taking into account the best foreign experience, a comprehensive step-by-step technology of attracting venture capital by innovative enterprises on the basis of sustainable development has been formed. The stages of venture financing and the activity of a venture company in general, mechanisms and incentives for increasing interest in the implementation of innovations in accordance with the goals of sustainable development at the enterprise level are considered. The influence of venture entrepreneurship on the innovative activity of companies is investigated. Also, attention is focused on how the venture manager manages the organization. The ways of formation, disadvantages and advantages of using venture capital at the globalized stage of development as a means of promoting new products and technologies on world markets in the context of sustainable socio-economic development are proposed. The paper considers the current state of venture investment and identifies areas for further development in the development of socio-economic system.
Keywords : venture capital, investment resources, innovation-investment mechanism, sources of project financing, venture investments, innovations, management, risk management, economic development
References:
1. Herasymchuk V.H., Shkolna O.V. Risk management in foreign venture financing of innovative projects. Bulletin of the National University "Lviv Polytechnic". 2008. № 628. pp. 424-429. (in Ukrainian).
2. Petrenko V.S., Karnaushenko A.S. Financing of innovative youth entrepreneurship by attracting venture funds. Business Inform. 2020. № 7. pp. 242-248. (in Ukrainian).
3. Zamlynskyi V.A. Status and prospects for improving the information management of venture investment processes. Accounting and Finance. 2015. № 4. pp. 15-18. URL: http://nbuv.gov.ua/UJRN/Oif_apk_2015_4_4 (in Ukrainian).
4. Zamlynskyi V.A. Management of venture investment risks in the food sector. Economy: the realities of time. Scientific journal. 2016. № 1 (23). pp. 99-106. URL: https://economics.net.ua/files/archive/2016/No1/99.pdf
5. Zamlynskyi V.A. Role of analytical tools and venture capital in building marketing strategy of the agricultural and food sector development. Bulletin of Chernihiv State Technological University. 2014. № 3 (75). pp. 202-210. URL: https://economic-vistnic.stu.cn.ua/tmppdf/1350.pdf (in Ukrainian).
6. Management vectors of successful business construction of the company in risk conditions / A.V. Buzunar, et.al. Challenges in Science of Nowadays: Proceedings of the 7th International Scientific and Practical Conference (Washington, USA, November 26-28, 2020). EnDeavours Publisher, 2020. pp. 148-158. DOI: https://ojs.ukrlogos.in.ua/index.php/interconf/article/view/6305
7. Zamlynskyi V.A. The current state and prospects of venture investment as a component of financial support for innovation in Ukraine. Foreign trade: economics, finance, law. 2014. № 5-6. pp. 172-179. URL: http://nbuv.gov.ua/UJRN/uazt_2014_5-6_19 (in Ukrainian).