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Business dominant position in innovation process

Author

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  • BABYCH T.O.

    (National University named after Vadym Hetman)

Abstract
In the international competitive environment innovative development acquires the special urgency for the nation. Innovation is no longer seen as a stochastic process. was The systematic implementation and stimulation of innovation have become the paradigm of economic development for the most of the world. It is important to form and to exploit new methodologies and tools for innovation policy. Such instruments should cover all the factors and results. So the large and small business should become the main partner for government. Globalization and sharpening of international innovation competition force business to seek new partner in the face of state, which defines the rules for the economy and is responsible for the formation of highly educated human capital. Therefore, the need to develop theoretical and methodological principles of public-private partnership defines the actuality of the study. Public-private partnership should facilitate the science, technology and innovation potential of both sides. The task of the state are forming and implementing innovative strategies that will take into account the dominant role of business in the sphere of innovations. Business, in turn, provides for its implementation available resources. The study shows that the public-private partnership can be the most effective instrument of national innovation policy. In this work the influence of public and private institutions on the level on public innovation ratio is specified. The role of big business in the innovation process is justified. The level of importance of practice for researchers for further innovative work is analyzed. The functions of the state and business in public-private partnership are outlined. In addition, patents are often being «sleppy» for a long time. Therefore, the paper presents basic ways of solving this problem. The paper provides advice for states which are seeking to implement an effective innovative policy based on public-private partnership.

Suggested Citation

  • Babych T.O., 2015. "Business dominant position in innovation process," International Journal of Innovative Technologies in Economy, CyberLeninka;ROSTranse Trade F Z C, issue 2 (2), pages 8-11.
    • Handle: RePEc:scn:033054:16525131
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    Cited by:

    1. Lee, In & Shin, Yong Jae, 2018. "Fintech: Ecosystem, business models, investment decisions, and challenges," Business Horizons, Elsevier, vol. 61(1), pages 35-46.

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