ANALYSIS OF CURRENT TRENDS IN INNOVATIVE DEVELOPMENT AND THE ROLE OF STATE INVESTMENTS

Abstract

The article is devoted to an analytical study of modern innovation trends in Ukraine and the world in the context of global challenges associated with the pandemic and the fourth industrial revolution. The researched composition and probematics of national participants in innovative activities. The role of state investments in the implementation of the strategy for the development of the sphere of innovative activity is defined. Based on the evaluation of the management of state investments of Ukraine, a set of priority recommendations was determined. The possibilities of using established sources of financing innovations in the future are critically assessed. It was determined that the main trends of innovative activity will be: the need for all participants to acquire new competencies through training; optimization of state investment infrastructure; tax incentives for innovative and active enterprises. To increase the reliability of innovative infrastructure, state investments in innovative projects of small and medium-sized businesses are necessary, which should find support at the legislative level. However, the  competences (rules and skills that we use to manage technologies) in Ukraine  are at a fairly high level, as evidenced by Ukraine's rating based on the  indicators of the «global knowledge and skills» criterion. According to the GlobalInnovation Index, the basis of Ukrainian innovative competitiveness is human capital, i.e. the knowledge and skills possessed by people that enable them to create value in the global economic system. Its effective implementation is the main competitive advantage. The highest priority should be given to establishing tax credits for R&D, because the impact of this tool, as  shown by world experience, is manifested in the shortest possible time.