The article examines the specifics of state support for startup industries in European countries. The authors analyze the main directions and features of implementing state policies in the field of innovation and startup entrepreneurship development. Existing tools for activating innovative and startup activities applied worldwide were identified. State support for the startup industry includes financial and non-financial assistance, as well as the creation of a favorable business environment. The essence and directions of state support for startups should depend on the stages of the innovation process and the needs of startups at each stage of their life cycle. Therefore, state support tools for startup entrepreneurship need to be differentiated and considered based on the innovation development needs at each stage.
European Union countries employ various approaches to state support for innovation. Some countries, such as Spain, France, and Germany, directly support innovation in enterprises by providing financial and non-financial assistance. Others, like Finland, utilize indirect methods to stimulate innovation, such as subsidies and tax incentives. The predictability of state support for innovation is a crucial factor in its effectiveness.
The article proposes recommendations for adapting and implementing effective mechanisms and tools to activate innovative and startup activities in Ukraine. Considering the resource constraints faced by Ukraine, particularly during full-scale warfare, the government must prioritize supporting selected startups and projects relevant to the country’s current circumstances. Post-war reconstruction efforts should involve creating a favorable legal and institutional environment to simplify the initiation and management of startup projects. Stimulating collaboration between businesses, research institutions, and universities through the development of innovation and technology spaces, incubators, accelerators, and startup schools is essential to support initiatives from talented youth, providing opportunities for skills enhancement and education for young entrepreneurs.
- Start-up Accelerator. State of the Art and Future Directions. Retrieved from: https://www.research-gate.net/publication/358723153_Startup_Accelerator_...
- The interaction of culture and organizational design in the process of activation of the innovative activity of corporations. Retrieved from: https://www.researchgate.net/publication/372358489_vzaemovpliv_kulturi_t...
- Sysoyev, Ye., Sychikova, Yu., & Torchylo, T. (2022). DealBook of Ukraine. Retrieved from: https://inventure.com.ua/upload/library/aventuresdealbook22fnl-220425084...
- Van Vulpen, E. (2023). Organizational Design: A Complete Guide. Retrieved from: https://www.aihr.com/blog/organiza tional-design/#What.
- Velika, K. V. (2012). Venture capital as a factor of innovative economic development: foreign experience. Academic review. No. 1 (36). Retrieved from: https://acadrev.duan.edu-.ua/images/PDF/2012/1/24.pdf.
- Ukraine Deal Review (2021). Tech Venture Capital and Private Equity deals of Ukraine. Retrieved from: https://www.slideshare-.net/UVCA/ukraine-deal-review2021-tech-venture-ca...
- Robin, S., Schubert, T. (2022). Cooperation with public research institutions and success in innovation: Evidence from France and Germany. Research Policy. Vol. 42(1).
- Shubin. O. O., Sadekov, A. A. (2008). Regulation of the innovation sphere: experience of the European Union. Bulletin of the International Nobel Economic Forum. No. 1. P. 273–276.
- Instruments for stimulating innovative activity in European countries. Retrieved from: https://www.researchgate.net/publication/356436892_Instrumenti_stimuluva...
- Startup Commons. Retrieved from: http://www.startup-commons.org/startup-development-phases.html
- International best practices on supporting startup ecosystems. Retrieved from: https://www.mekongbiz.org/wp-content/uploads/2017/02/International-best-...
- Goglio A. Policies to promote innovation in the Czech Republic. OECD Economics Department Working Papers. 2021. No. 498. 21 p.
- Research in Germany. Land of Ideas. Retrieved from: http://www.research-in-germany.org/en.html.
- Vovk, V., Zhezherun, Y., Bilovodska, O., Babenko, V., Biriukova, A. (2020). Financial Monitoring in the Bank as a Market Instrument in the Conditions of Innovative Development and Digitalization of Economy: Management and Legal Aspects of the Risk-Based Approach. IJIEPR. 31 (4). P. 559–570. Retrieved from: https://doi.org/10.22068/ijiepr.31.4.559
- National innovation system: current trends and challenges for Ukraine. Retrieved from: https://periodicals.karazin.ua/irtb/article/view/16838/15544
- IT image of Ukraine in the world. Retrieved from: https://brandukraine.org.ua/documents/101/Ukraines_IT-_perceptions_repor...
- The Cabinet of Ministers of Ukraine Decree on the approval of the Strategy for the development of the sphere of innovative activity for the period up to 2030. Retrieved from: https://zakon.rada.gov.ua/laws/show/526-2019-%D1%80#Text