ACTIVATION OF THE FINANCIAL MECHANISM OF THE CLUSTER FORMATION

The article studies the stages of financial mechanism activation of the cluster formation. It is established that the clusters are sectoral and territorial form of companies association that collaborate closely with the academic institutions and local authorities with the aim of improving the competitiveness of its products and economic growth in the region. The principle of cluster enterprises is different from other associations because such associations of different branches enterprises do not merge into a single structure, and cooperate within the framework of overall development strategy. It is determined that the process of cluster formation involves the interaction between organizational, institutional, regulatory and financial mechanisms that determine the business concept of creating a specific cluster. It is proved that the financial mechanism is a key in the formation of the cluster, and the intensification of the financial mechanism of the cluster formation initiatives conventionally consists of four stages and involves a process of accumulation and the accumulation of financial resources, the process of influencing decision-making regarding the investment in the formation of the cluster, ensure that the process of financial resources movement, which consists of organizational, legal and technical support, as well as the tuning of the economic, social and societal effect. At each stage of the financial mechanism, there are points of activation or delay of this process that are requiring the additional exposure for their activation.