INNOVATION ACTIVITY: GLOBAL AND EUROPEAN APPROACHES

Keywords: innovation, innovation activity, innovation policy, EU, sustainable development, digitalization, “green” economy

Abstract

The article explores the key features of innovation activity in both the global and European dimensions, emphasizing its role as a strategic driver of competitiveness, sustainable development, and resilience to contemporary global challenges. It is highlighted that in the current stage of economic transformation, innovation becomes not only a desirable but also an essential prerequisite for long-term stability and prosperity of nations. The study identifies major global innovation trends such as the digitalization of economic and public governance processes, the green transition towards renewable energy and circular economy models, the advancement of biotechnology and healthcare innovations, as well as the development of human capital and support for startup ecosystems. Special attention is devoted to the innovation policy of the European Union, which is characterized by systematic multi-structural models that foster continuous generation and commercialization of technologies, strengthen research and innovation infrastructure, and enhance cross-border collaboration through joint programs and platforms. The EU’s strategic orientation towards digital and green transformation, coupled with substantial financial investments in research and development, provides a solid framework for strengthening global competitiveness. Furthermore, the European experience illustrates the importance of integrating science, business, and government in fostering innovation, expanding international cooperation, and promoting sustainable development. This experience is highly relevant for Ukraine, particularly in the context of post-war recovery, where innovation is expected to serve as a catalyst for technological modernization, economic resilience, and integration into the global economy. The article concludes that modern innovation trends are based on the synergy of advanced technologies, sustainability principles, and human potential, forming a model for sustainable and competitive development in the face of global transformations.

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Published
2025-09-18
How to Cite
Poliakova, Y., Shayda, O., & Drebot, N. (2025). INNOVATION ACTIVITY: GLOBAL AND EUROPEAN APPROACHES. Sustainable Development of Economy, (5 (56), 26-31. https://doi.org/10.32782/2308-1988/2025-56-4