Priorities and principles of state innovation policy

Subject of research – mechanisms of providing innovative development in conditions of limited financial resources. The purpose of writing the article is the author’s definition of the priorities of the state policy in the sphere of scientific and technological and innovative transformations of the economy. Methodology of work – general provisions of economic theory and economy of innovation, as well as a comparative analysis of the impact of priorities and objectives of the state innovation policy on the development of the introduction of advanced technologies. The results of the work – an analysis of foreign experience of state support of innovation activity of business entities. The strategy of forming the model of innovative development of Ukraine through the application of financial–credit and tax levers is highlighted, among which the most important are the state financial support of innovative business in direct and indirect forms. Among the national instruments for supporting innovation, the following can be effective: a set of tax benefits, a state policy of accelerated depreciation, provision of state guarantees in investment loans for small and medium–sized businesses, stimulation of specialized institutions, provision of preferential loans to entrepreneurs–innovators, tax holidays and the formation of special innovation funds and sectoral banks reconstruction and development, promotion of the system of preferential insurance of risks of innovative entrepreneurship; introduction of state pressure on the use of outdated technologies and equipment. Conclusions – One of the strategic priorities of state policy is the implementation of the principles of innovative development of the Ukrainian economy, namely: increasing the efficiency of budget financing of the scientific sphere; integration of the domestic scientific sector into the European research space; creation of high–tech competitive products and services and infrastructure of innovation activity. The need to formulate strategic priorities is due to the growth of production resource constraints; the need to increase the effectiveness of the results of the introduction of the latest technologies, products and services; and the provision of human–health standards of living. In the services sector, prospects are becoming financial instruments for supporting innovation, such as preferential lending, subsidies and subsidies