VENTURE INVESTMENTS AS A PROSPECTIVE DIRECTION OF ACTIVATION OF INNOVATIVE ACTIVITY

The purpose of this article is to study the intensification of venture investment in innovation processes in Ukraine, to identify problems and promising areas of development of the venture industry. The article considers the essential characteristics of the economic category "venture investments" and "investments", comparative analysis and the relationship between them. The main advantages and disadvantages of venture investment, values and main forms are highlighted. The sequence of stages of venture financing and types of schemes of venture financing are given. Venture capital entities are considered. The main stages of formation of the venture industry in Ukraine are revealed. Methods of analysis and risk assessment of the investment project are offered. The main types of strategies for minimizing risks in venture investing are presented. Among the considered strategies the most promising are strategies implemented with the participation of third parties, as in this case the maximum effect from a point is reached view of the national economy. Object of research. Venture capital in the system of financing innovation processes in the modern economy. The subject of the research is theoretical methodological and applied aspects of the functioning of venture capital as a source of financing innovation processes in Ukraine. The methodological basis of the study is a set of general and special methods of cognition. Methods of analysis and synthesis, generalization and scientific abstraction were used in the formation of the conceptual and categorical apparatus. The analysis of approaches to understanding the essence of venture investment, its components was carried out using dialectical and systemic-structural methods. The application of the historical-logical method, induction and deduction made it possible to study the genesis of the theory of economics and enterprise management, the factors of the strategy of development of venture investment of business entities. Within the framework of the study of the current state of venture investment, calculation and analytical methods of observation, measurement, analysis and comparison are used. Conclusions. It is proved that venture investment only has a positive effect on accelerating innovation processes in the economy when it performs its main function – investing in small innovative enterprises that implement their progressive ideas, providing positive innovative changes in the production structure in favor of high-tech systems. The essence of the influence of venture capital on innovation processes is manifested only through its main function – venture investment.

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FEATURES OF PUBLIC ADMINISTRATION IN SHAPING STRATEGY OF VENTURE INVESTMENT OF BUSINESS ENTERPRISES

Baltic Journal of Economic Studies ◽

10.30525/2256-0742/2020-6-4-125-132 ◽

2020 ◽

Vol 6 (4) ◽

pp. 125-132

Author(s):

Ivan Parubchak ◽

Halyna Hrynyshyn

Keyword(s):

Venture Capital ◽

Enterprise Management ◽

High Tech ◽

Initial Development ◽

Strategy Of Development ◽

Venture Investment ◽

Logical Method ◽

Business Entities ◽

High Level ◽

Structural Methods

The purpose of this study is to define the content of the category “venture investment”, and to establish the relationship between the concepts of “venture investment” and “venture capital”, to analyze the state of venture investment in Ukraine and determine its role in innovative development of the economy, to systematize international experience consider the possibility of its adaptation in Ukraine. Object of research: venture capital in the system of financing innovation processes in the modern economy. The methodological basis of the study is a set of general scientific and special methods of cognition. Methods of analysis and synthesis, generalization and scientific abstraction were used in the formation of the conceptual and categorical apparatus. The analysis of approaches to understanding the essence of venture investment, its components was carried out using dialectical and systemic-structural methods. The application of the historical and logical method, induction and deduction made it possible to study the genesis of the theory of economics and enterprise management, the factors of the strategy of development of venture investment of business entities. Within the framework of the study of the current state of venture investment, calculation and analytical methods of observation, measurement, analysis and comparison are used. Conclusions. Based on the above study, we can assume that venture capital is a combination of financial, human and intellectual resources, which with a high level of risk is invested in the development and implementation of high-tech products of companies that are in their infancy and initial development and are not listed on the stock market and in case of success brings its owner a profit that is much higher than the industry average. Despite the riskiness of investments, venture investments have a number of attractive prospects and advantages. As world experience shows, venture-backed companies are better prepared to innovate, grow faster and create more jobs in the future.

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Trends in innovation and investment development of high-tech enterprises

Российский технологический журнал ◽

10.32362/2500-316x-2019-7-5-79-92 ◽

2019 ◽

Vol 7 (5) ◽

pp. 79-92 ◽

Cited By ~ 1

Author(s):

I. A. Mandych ◽

A. V. Bykova

Keyword(s):

Venture Capital ◽

Capital Market ◽

Capital Investment ◽

Growth Promotion ◽

International Market ◽

High Tech ◽

Venture Capital Investment ◽

Success Stories ◽

Venture Investment ◽

Market State

The article deals with the main prospects and problems of investing in innovative activities of high-tech enterprises. The principles of construction of venture investment and the mechanism of venture financing of a project when creating technological innovation were investigated. The overview of the Russian venture capital market shows the positive dynamics associated with the termination of a significant outflow of funds from the market and the growth in the number of newly created funds. There were also revealed promising areas for the development of the venture capital market and support high-tech enterprises, namely: success stories; low profitability of traditional investment instruments; the growth of activity of state corporations; growth in the number of startups focused on the international market; state support; angel investing growth; promotion of VC and innovations; the emergence of smart industries. Such barriers to the development of venture capital investment as the disunity of the market, the lack of co-investment. There were made conclusions about the prospects of engaging businesses in the processes of research and development of new products, as well as its promotion in promising markets among partners with special competencies, and that human resources are becoming the most important component of the success of high-tech industries.

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Prospects for the Development of IT-clusters in Ukraine on the Basis of Venture Financing

Herald of the Economic Sciences of Ukraine ◽

10.37405/1729-7206.2019.2(37).190-195 ◽

2019 ◽

pp. 190-195

Author(s):

V. Mishura ◽

V. Volodchenko

Keyword(s):

Venture Capital ◽

Capital Investment ◽

Information Technologies ◽

State Regulation ◽

Cluster Policy ◽

Innovation Ecosystem ◽

Venture Capital Investment ◽

Venture Investment ◽

Venture Financing ◽

The Impact

The basic principles of the development of IT clusters as a component of the national innovation ecosystem of the country were reviewed and analyzed. A conceptual model of organizational and economic state regulation of IT clusters in the national economy has been developed, which harmonizes the social and economic interests of the participants of the cluster association and is aimed at forming a state cluster policy based on improving the competitiveness of the IT sector. Practical recommendations for improving the state policy of development of IT-clusters in Ukraine on the basis of venture capital investment are substantiated. It has been established that despite the positive dynamics of venture investment in the IT sector in recent years, unfortunately, it is still in the process of becoming. The intensity of the impact of venture capital on the formation and development of the IT sector in Ukraine is estimated. The main factors that impair the development opportunities of this type of investment in Ukraine are investigated. Analyzed the structural and regional features of the development of IT-clusters. Based on the analysis, it was revealed that the development of IT clusters on the basis of venture investment is a promising and modern investment direction for Ukrainian enterprises. Keywords information technologies, IT cluster, IT sector, venture financing; innovation development, venture capital.

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VENTURE CAPITAL FUNDING AS A FACTOR OF THE INNOVATIVE DEVELOPMENT

THE BULLETIN ◽

10.32014/2021.2518-1467.66 ◽

2021 ◽

Vol 2 (390) ◽

pp. 169-176

Author(s):

Ye. N. Nesipbekov ◽

G. N. Appakova ◽

Zh. S. Karabayeva

Keyword(s):

Venture Capital ◽

Innovative Activity ◽

Innovative Development ◽

Field Development ◽

Stage Of Development ◽

Venture Investment ◽

Venture Capital Funding ◽

Capital Funding ◽

Venture Financing ◽

Effective Development

The paper justifies the necessity to improve the mechanisms of venture capital funding in Kazakhstan for sustainable and effective development of the country. The role of venture capital funding in the innovative development of the countries is investigated on the base of study of the experience of such countries as USA, Canada, Europe, India, and China. The recent research works related to the venture capital funding in different aspects are reviewed. The innovative activity and venture investments in the Republic of Kazakhstan were analyzed. The paper investigates the features of venture capital funding in Kazakhstan. The investigation results show that Kazakhstan system of venture investment is at its initial stage of development, and there are no tangible results of venture field development yet. The conducted research allowed revealing the factors limiting the development of venture investment in Kazakhstan, these are: poor systematic monitoring of funds efficiency invested by the national institutes; lack of effective strategies of venture capital funding; low innovative activity and intensity of venture appearance; uncertainty and gaps in the legislative base related to venture financing; absence of tax concessions and preferences not tied to FEZ or technological parks; absence of strong institutional venture investors; low capacity of securities market and scarcity of its instruments. The work suggests a set of measures directed on activation of venture financing. The implementation of the suggested measures assumes the increased control over the effectiveness of quasi-public structures investments and venture incomes, and creation of conditions for venture capital funding development. The research results can be a cut-off point for further investigations in the field of venture capital funding related to the innovative development of the country.

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VENTURE FINANCING OF INNOVATIVE PROCESSES IN AN AGRICULTURE OF UKRAINE

World Science ◽

10.31435/rsglobal_ws/30092018/6137 ◽

2018 ◽

pp. 62-65

Author(s):

Ilona Dumanska

Keyword(s):

Venture Capital ◽

Commercial Banks ◽

Agricultural Sector ◽

Basic Research ◽

Foreign Investments ◽

Research And Innovation ◽

Venture Investment ◽

Foreign Countries ◽

Venture Financing ◽

Favorable Conditions

The article reveals the peculiarities of ventures investigated the sources of their funding. The problems of venture financing innovation enterprises of the agricultural sector. The problems and prospects of development of venture investment in Ukraine. Found that in Ukraine is a source of venture capital organizations, large companies and commercial banks. Today, almost every company has its own venture capital fund that invests in innovative businesses related fields. Unlike the developed foreign countries in Ukraine basic research in the agricultural sector financed only by the state. This fact provokes the creation of favorable conditions for attracting private and foreign investments for the development of research and innovation in agriculture.

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ESSENCE AND ECONOMIC NATURE OF COUNTRY-REGIONAL BENCHMARKING MODELS IN ORDER TO DETERMINE THEIR COMPETITIVE FACTORS

Intellect XXІ ◽

10.32782/2415-8801/2021-2.9 ◽

2021 ◽

Author(s):

Antonina Lahun

Keyword(s):

Venture Capital ◽

Market Model ◽

High Tech ◽

Bank Capital ◽

Regional Models ◽

Corporate Sector ◽

Capital Financing ◽

Venture Financing ◽

The Impact ◽

Venture Capital Investments

The article is devoted to the current typification of country-regional models, which is based mainly on criteria for the scale and structure of venture financing, the degree of development of national financial markets, the level of concentration of bank capital and participation of banks in corporate sector management, the availability of venture capital financing. structures, share of bank capital in venture financing of investment projects, share of corporate sector in financing of venture funds, tupenya of mergers and acquisitions, the protection of minority investors and the concentration of ownership in the real economy. The criteria of classification of country-regional models of venture financing of innovative projects that cannot fully reflect its impact on the structural dynamics of national and global innovation development and should be supplemented by a number of additional criteria are considered. It is also the market model most widely used in the Anglo-Saxon countries. The presence of the best international business schools in the world is also a major competitive advantage of the market model of venture financing for innovation; deep cooperative links between universities, government laboratories and private companies. The role of the state in supporting the venture industry is analyzed, since in the market model it consists in direct investment of state funds into innovative companies (ie participation in capital) and high-tech programs and projects, as well as implementation of guarantee programs for the development of venture activity and creation of proper regulatory, organizational-economic, financial-investment and credit-tax conditions of its support. The strategic goal is most realized today in countries with a market model of venture financing, where it has long proven its high efficiency as a significant source of innovative development. And, the deepening of the processes of technoglobalism gives the venture business a powerful impetus for development, transforming it in accordance with the impact of global economic trends and stimulating the scale-up and diversification of the regional and sectoral-sectoral structure of venture capital investments.

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Regarding issues of the concept of venture investment of innovative activity

Law and innovations ◽

10.37772/2518-1718-2021-2(34)-4 ◽

2021 ◽

pp. 30-35

Author(s):

Hanna Sitchenko

Keyword(s):

Venture Capital ◽

Early Stage ◽

Civil Law ◽

Innovation Activity ◽

High Tech ◽

Negative Consequences ◽

Venture Investment ◽

Current State ◽

Law Regulation ◽

Legal Entities

Problem setting. The current state of scientific researching the issue of venture investment of innovation activity suggests that the presence of mixing in research of diverse concepts in the field of venture investment innovation, reflection in regulations of the uncoordinated categorical definitions, leads to negative consequences in the form of legal uncertainty or even conflict, that significantly slows down the process of attracting investment. Therefore, the idea is that the building effective mechanisms of civil law regulation of venture investment of innovation activity of Ukraine in order to accelerate the commercialization of innovations as a major driving force of economy during the spread of COVID-19. Analysis of recent researches and publications. O. M. Vinnyk, S. O. Vikhrov, S. V. Hlibko, T. S. Hudima, Y. M. Zhornokuy, D. V. Zadykhaylo, O. YU. Kampi, O. P. Podtserkovnyy, V. V. Poyedynok, V. Y. Polatay, O. E. Simson have been researched the subject of innovation and investment activities. Theirs scientific minds formed the basis of this research, but the author has analyzed the current state of legislation in the given field and concluded that, in terms of civil law regulation of legal relations aimed at investing in innovation sphere, does not meet the global vector of development. To date, no systematic approach to building a holistic regulatory framework for the basic principles of formation and regulation of the venture capital market in Ukraine. So in the conditions of legislation of civil law the issues of venture investment of innovation activity in Ukraine remains open for new discussion, and the relevance of this study is obvious. Target of research is to analyze and identify the concept of venture investment of innovation activity, to determine its essence and characteristics in the civil law aspect. Article’s main body. Venture capital investment, as an element of the national innovation system, ensures the effective implementation of venture capital in the activities of private legal entities operating in the field of innovation, on a corporate or contractual basis. The high risks of such investment are due to the novelty of commercialized innovations and the early stage of bringing new high-tech products to market, created on their basis, and are reduced using of special legal forms and tools. Venture investment of innovation activity as a civil law category is a type of activity of venture investors to acquire shares (shares in the authorized capital) of legal entities of private law, carrying out innovative activities at an early stage of bringing their innovative product to market or (and) its scaling, aimed at obtaining a high level of profit from the subsequent sale of these shares (shares), characterized by high risks and long-term return on invested capital. Conclusions and prospects for the development. Analysis of the concept under this research allows us to conclude that venture investment of innovation activity is special value to the economy nowadays, demonstrating high growth potential during the spread of COVID-19. Therefore, its legal definition and legislative consolidation, taking into account the essence and characteristics, is a particularly urgent need for today's civil law regulation.

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FORMATION AND DEVELOPMENT OF VENTURE FINANCING SYSTEM IN UZBEKISTAN

Innovation in the economy ◽

10.26739/2181-9491-2020-10-2 ◽

2020 ◽

Vol 10 (3) ◽

pp. 12-18

Author(s):

Mehri Vokhidova ◽

Keyword(s):

Venture Capital ◽

Financing System ◽

Venture Financing

This article examines the first stage of the formation of venture capital in Uzbekistan and the possibilities of applying the experience of Israel in the development of venture financing in the country

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