Received 20.12.2023, Revised 29.03.2024, Accepted 20.05.2024

Innovation and investment perspective activities in Ukraine

Viktoriia Bokovets, Olena Moroz, Alla Kraevska

The key theoretical and methodological aspects of innovation activities were highlighted, and a systematic overview of scientific perspectives on the essence and content of innovation and innovation activities was conducted. Discrepancies in the interpretation of these concepts were identified, and the features of innovative activities of Ukrainian enterprises and factors contributing to its intensification were analyzed. The impact of expenditures on scientific and scientific-technical works on the effectiveness of innovation activities in Ukraine was evaluated. The main problems and obstacles that arise on the path of Ukraine's innovative development were also examined in detail. Within the research, factors influencing the intensification of innovation activities of industrial enterprises in Ukraine were considered. The sources of funding for innovation activities of industrial enterprises for the period 2021-2023 in Ukraine were analyzed in detail. It was found that the main source of funding is own funds, showing a stable growth trend during the study period. Ukraine, possessing significant potential for innovation and investment, faces a unique challenge - a military conflict across its entire territory. This conflict creates a range of difficulties and constraints for the development of the innovationinvestment sphere, but simultaneously reinforces the need for strategic decisions to overcome these challenges. One of the primary impacts of war on innovation-investment activity is economic difficulties. The military conflict has led to economic losses, destruction of infrastructure, and requires significant financial expenditures to support military operations. This leads to limitations on resources that can be invested in innovation and development. The presence of a military conflict complicates the task of attracting international investments. Investors, assessing risks, may be inclined to refrain from large investments in a country at war. Under these conditions, it is crucial to implement effective strategies for international partnership and communication to reduce the negative impact of the conflict on the investment climate. Simultaneously, a military conflict can stimulate the development of technologies to address wartime challenges. Innovative developments in the fields of security, medicine, and military technology can become a crucial factor in improving the situation and reducing the threats of military conflict. An essential element in overcoming the challenges of a military conflict is supporting innovative entrepreneurship in conditions of economic and political difficulties. Providing financial and infrastructural support for startups and innovative enterprises can contribute to maintaining the country's competitiveness in times of war

innovation; innovative activity; intellectual capital; information; knowledge
11-19
Bokovets, V., Moroz, O., & Kraevska, A. (2024). Innovation and investment perspective activities in Ukraine. Innovation and Sustainability, 4(2), 11-19. https://doi.org/10.31649/ins.2024.2.11.19

References

[1] Busel, V.T. (Ed.). (2019). The large interpretative dictionary of the modern Ukrainian language. Irpin: Perun.

[2] The Commercial Code of Ukraine. (2003, January). Retrieved from https://zakon.rada.gov.ua/laws/show/en/436-15?lang=en#Text.

[3] Bokovets, V.V. (2019). Ways to increase the innovation activity of modern enterprises. Regional business economics and governance, 4(64), 12-19.

[4] Bokovets, V.V. (2021). Assessing the effectiveness of an organisation's innovation activity in modern conditions. Scientific Letters of Academic Society of Michal Baludansky, 9(1), 12-15. 

[5] European innovation scoreboard 2018. (2018). Retrieved from https://op.europa.eu/en/publication-detail/-/publication/8e458033-74fc-11e8-9483-01aa75ed71a1.  

[6] Official website of the State Statistic Service of Ukraine. (n.d.). Retrieved from https://ukrstat.gov.ua/.

[7] Puchok, M.S., & Vasylenko, A.V. (2023). Investing in Ukraine during the war: Trends and prospects. In 2023: IV International Scientific and Practical Conference “Business, Innovation, Management: Problems and Prospects” (p. 137).

[8] Levkovych, A. (2022). Don't miss the “Ukrainian train”. Retrieved from https://www.epravda.com.ua/columns/2022/07/18/689232/.  

[9] Simpson, M. (2022). Why is it worth investing in Ukraine?. Retrieved from https://www.epravda.com.ua/columns/2022/11/3/693386/.

[10] Skrypal, A. (2023). Investing in Ukraine during the war. Retrieved from https://trans.info/ua/investuvannya-v-ukrayinu-pid-chas-viyny-327240.

[11] Svyrydenko, Yu. (2022). A country of opportunities: Why investors will come to Ukraine. Retrieved from https://www.epravda.com.ua/columns/2022/09/29/691997/.