Characteristics of directions as the basis for creating a model of financial incentives for innovation activities in the industrial sector Direction Definition Types of direction Financial
A method, reflecting the process of
financial support and use of capital
aimed at creating a new idea or
participating in an innovation project
1. Commercial: own financing of an innovation project by
a company or attracted financing from innovative facilities
infrastructure, financial and credit organizations, and
institutional investors.
2. Budgetary: financing of an innovation project from the
state budget
Integration
A method of bringing together the
efforts of several entities to achieve a
common long-term goal
1. Partnership: efforts are combined between
technologically related business units.
2. Competitively oriented: efforts are combined between
entities whose activities are homogeneous in terms of
industry
Industry
A method reflecting industry and
market differences between companies
operating in industrial sectors,
considered in state regulation policy
1. Regulatory: involves the introduction of target-oriented
documents that take into account industry and market
differences between companies operating in industrial
sectors.
2. Cooperative: involves joining forces between companies
operating in industrial sectors and development funds, and
research centers in order to implement joint innovation
projects.
Source: developed by the authors.
INVEsTMENT POlICY
FINANCE: THEORY AND PRACTICE
Vol. 26, No. 2’2022
FINANCETP.FA.RU 79
Financial mechanism for
stimulating innovation activity