PRIORITY DIRECTIONS OF THE DEVELOPMENT OF INNOVATIVE ACTIVITIES IN UKRAINE

Abstract

The priority directions for the development of innovative activity in Ukraine are formed in accordance with national interests, global technological trends and increasing the country's competitiveness. Innovative activity is a set of measures aimed at the development and implementation of new products, services or processes that meet the needs of the market and provide a competitive advantage. It is a continuous process involving scientific research, technological innovation, organizational transformation and marketing strategies. Innovations act as a key engine of economic development, contribute to improving the quality of life and help in solving global problems. Ukraine needs significant reformation and the creation of a defense strategy based on modern approaches to the development of the economy, the credit and financial sector, and innovative activities. Choosing the right strategy and its timely implementation, effective measures to support innovation and take into account opportunities and prospects are the main criteria for ensuring the country's economic security and its rapid recovery. The functioning of small and medium-sized businesses, as well as the development of investment mechanisms that combine state and private capital to finance innovative projects, remain important aspects in the development of innovative activities of the state. The innovative model of economic development is implemented thanks to the concentration of state resources on priority areas aimed at strengthening economic security, thanks to the creation of high-tech and competitive environmentally friendly products, through the provision of high-quality services and the increase of the country's export potential, the effective use of national and global scientific and technological achievements. Innovations are the main driving force capable of increasing the efficiency of the functioning of the national economy and streamlining the regulation of state systems and mechanisms for managing economic processes. Innovation is a major factor in determining the competitiveness of countries and their place in the global economy. In this regard, the state is obliged to actively allocate funds for scientific research and support of innovative activities.