The Conceptual Bases of the Strategy for the Advancing of Technology-Oriented Startups in the Interests of Innovative Development of Ukrainian Economy

• Main Authors: Salikhova Olena B., Kurchenko Olena O.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2020-09-01
• Series: Bìznes Inform
• Subjects: startup; technology-oriented startup; entrepreneurship; technological innovations; government policy; strategy
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2020-9_0-pages-65_75.pdf
• ISSN: 2222-4459; 2311-116X

The purpose of the article is to define the conceptual bases of the Strategy for the advancing of technology-oriented startups (TOS) in the interests of innovative development of Ukrainian economy, based on modern challenges and threats, as well as global tendencies in the development of technologies. In view of the findings of an analysis and on generalization of scientific achievements of Ukrainian scholars and practitioners, as well as taking into consideration the preliminary results and conclusions of the authors’ own researches, the article provides both the endogenous and the exogenous barriers that prevent the development of TOS in Ukraine. It is substantiated for the first time that a startup is not only a human institution that creates new products or services in the face of extreme uncertainty, but a multi-device mechanism that provides technology transfer from the academic, educational and scientific spheres to the business environment through the establishment of an economic entity; accelerates the commercialization of technology and the introduction of the new product, process, service to the market; ensures the international technology transfer through the involvement of foreign pioneering entrepreneurs to commence and develop a startup in another country, as well as through the acquisition of a current startup by a foreign company (mergers and acquisitions, foreign investments); provides access to foreign technologies, infrastructure, databases. It is shown how technology-oriented startups are able to turn the limited opportunities of a novice company into advantages in a competitive struggle with leaders and lead to structural changes in the economy. The goals, priorities, key tasks of TOS development in Ukraine, as well as ways of their implementation are defined, aimed at: formation of personnel and scientific-technological resources; encouraging the commencement of TOS; launching corporate incubators and accelerators; ensuring stable sources of funding for the establishment and development of TOS; promoting technological innovations and facilitating the TOS’s access to the public procurement market and foreign markets; protection of TOS from «unfriendly» investors; introduction of monitoring of TOS activities and popularization of innovative entrepreneurship.