STIMULATION OF INNOVATIVE DEVELOPMENT OF ENTREPRENEURSHIP: CONCEPTUALIZATION, GLOBAL CHALLENGES AND DOMESTIC REALITIES

Introduction. In Ukraine, innovative development has been and remains a priority for ensuring socio-economic progress. However, the country tends to have low business innovation indicators, which negatively affects the dynamics of transformations both at the state and regional levels. Among the main problems of innovative development, the following can be highlighted: insufficient financial support for innovation activities, an unstable legislative framework, and a shortage of innovative solutions that would result from cooperation between science, business, and government institutions. The war in Ukraine has further complicated the situation, making it difficult for enterprises to focus on innovative activities under martial law conditions. Additionally, there have been significant losses of human and material resources, which have negatively impacted the country's innovative potential, thus requiring new solutions and an update of approaches by scientists and practitioners to their formulation and implementation. Purpose. The purpose of this article is to outline guidelines for stimulating innovative development of entrepreneurship in the context of their conceptualization, as well as national and global challenges. Materials and methods. The research materials include: 1) regulatory legal acts that, in particular, regulate innovation activities; 2) works of domestic and foreign scientists conducting research on the studied issues. In the course of the research, the following scientific methods were used: systematization and grouping (to characterize and systematize approaches and tools for stimulating innovation activity); formalization, analysis, and synthesis (to study innovation trends and the dynamics of the IT industry development); logical generalization (formulation of conclusions). Results. The article outlines the issues of innovative development of entrepreneurship and its stimulation in Ukraine. It is emphasized that innovative development is an important factor in economic growth and competitiveness of the country, and its stimulation requires the formation of a favorable institutional environment, investment in human capital and development of science and technology. Under martial law in Ukraine, additional challenges have arisen for businesses, which require innovative solutions in areas such as digitalization, defense industry, and dual-use technologies. Therefore, it is important to analyze the key aspects and trends of innovative business development based on the conceptualization of this concept, taking into account the current understanding of global challenges and realities for Ukrainian business. The dynamics of innovative business development is a key factor in ensuring the sustainability of enterprises. The analysis of innovation indices, in particular The Global Innovation Index and the European Innovation Scoreboard, identifies problems for the domestic business environment and guidelines for policies to stimulate innovation in the country and regions. It is argued that in times of war, innovation can become a key element of economic recovery and security. It is important to take into account current realities, including political, economic and sociocultural factors that affect the innovative development of entrepreneurship during the war.