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Overview of the EU Innovation Policy Instruments Landscape: Conclusions for Ukraine

Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.68, No. 2)

Publication Date:

Authors : ;

Page : 96-107

Keywords : innovation policy; innovation policy instruments; research and development; innovation; European experience; European integration; Ukraine; post-war recovery;

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Abstract

The need to modernize and critically rethink the state of Ukraine`s national innovation policy and the tools for its implementation is justified. This is due to the slowdown of innovation processes in the country over the past five years and the chronic problems that have accompanied the national research and innovation sphere for almost the entire period of independence. To that end, it is necessary to rely on the theoretical argumentation of the grounds for state intervention in innovation from the standpoint of various economic schools, and European experience in the development and implementation of innovation policy, which is relevant in the context of Ukraine's European integration, as well as taking into account modern challenges and the specifics of the social and institutional arrangements of Ukraine as a developing country. This article identifies and summarizes the most common instruments used at the level of the EU and its member states to support research, development, and innovation. These include research, collaboration, doctoral and seed grants, public procurement, start-up funds, venture funds, science and technology parks, clusters, technology transfer offices, technology centers, innovation loans and innovation vouchers, tax incentives, "living labs", digital innovation hubs, etc. Some of them have been analyzed to illustrate the similarities and differences in the innovation policy of the EU member states. It has been determined EU member states still tend to use supply tools, supporting knowledge generation to a greater extent, and tools to stimulate demand for innovation are much less common in them, which does not allow the EU to catch up with world leaders, in particular the United States, Japan and South Korea, for the performance of national innovation systems. Based on the analysis of the European experience in supporting and stimulating innovation, proposals are formulated for the development of a national innovation policy for an effective post-war recovery.

Last modified: 2023-02-14 18:49:30