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Formation and development of startups in Ukraine: problems and solution approaches

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Innovative startups is a new form of innovative business and they create high value added and high-paying jobs. It is due to their positive impact, there is an increasing attention from countries with developed innovative systems and increased number of implemented programs to support startups. However, in Ukraine there are no instruments of public support, and there is no formalized legal definition of the term “startup company”.

The article dwells upon the history of startups in Ukraine, the place of the country on the international rankings and the problems that startups are currently facing. Author presents main results of pilot study conducted by Institute for Economics and Forecasting, NAS of Ukraine on the development of domestic startups as the most dynamic agents of the national innovation system. The conclusion was driven that there is an urgent need for the STEM-specialists who are able to create, multiply, and promote new knowledge, to effectively use it in their work.

Another important accent should be made on the implementation of government programs to support Ukrainian technology based of international best practices, and to strengthen information security startups for the participation in international support programs, including “Horizon 2020”. Creating similar conditions in Ukraine also will contribute to the development of startup ecosystem and strengthen innovative entrepreneurship.

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