Участие венчурного капитала в финансовом обеспечении инновационной деятельности

Abstract

The paper is dedicated to the problem of venture financing of innovation activity in the world and in Ukraine in particular. Main indicators characterized venture capital and private equity investments in the USA and EU are provided in the paper. It is proved that in spite of the decrease of venture investments due to the recent crisisventure capital still is a significant financial resource for innovations in the world. Complex analysis of current situation in Ukrainian venture industry is done in the paper. It is shown that in spite of the large number of venture funds and significant amount of private money venture industry is still at the initial stage. The main barriers for the development of venture industry in Ukraine are shown. It is proved, that theoretical misunderstanding of the venture capital essence; absence of specialized legislation background for venture industry; absence of National innovation fund; non-innovative investment policy of Ukrainian venture funds are crucial barriers for efficient development of venture sphere. Recommendations for increasing of venture capital participation in the innovation financing in Ukraine are provided in the paper.