INNOVATIVE ORGANIZATION STRUCTURE OF JOINT ENTERPRISES AS A FACTOR IN VENTURE CAPITAL AND ITS ROLE IN THE DEVELOPMENT OF A SOCIO-ECONOMIC SYSTEM

The economic success of the developed countries thrives on innovations emphasizing the role of an innovative approach based on consumer-oriented strategies, new products and services and advanced management systems. However, most innovative models require significant intellectual and financial resources for research, for patents while most entrepreneurs do not have a budget for it. International practice shows that joint enterprises have better opportunities to attract venture capital, both intellectual and financial. Under effective management, joint enterprises can implement the following measures: to form innovative structure, to stimulate corporate innovation activity, to engage intellectual capital, to use advanced technologies in finance management. The goal of it is to create an innovative model and boost venture capital turning it into the engine of economic development that will result in creative business know-how, improved quality of goods and services. The positive effect will develop the whole socioeconomic system and establish new rules for innovative entrepreneurship with the understanding of the individual contribution to the development of society, which will encourage initiative and productivity