INNOVATIVE ECOSYSTEM - AN IMPORTANT FACTOR FOR ECONOMIC GROWTH
LAMARA QOQIAURI
Doctor of Economics Sciences, Professor.
Academician of Georgian Economics Academy,
Science worker at the National Institute of Economic Research
Georgia, Batumi
E-mail: lqoqiauri@yahoo.com
http://orcid.org/0000-0002-8190-1016
Abstract
The work explores the core purpose of the innovation ecosystem, its role in enhancing the competitiveness of national and regional economies. The key parameters of the innovative ecosystem are discussed here, and the baseline conditions for creating a local innovation ecosystem. The article presents the most pressing problem today- the process of creating and commercializing innovations, research in terms of resource allocation, technology development and commercialization.
The creation of conditions for sustainable economic development in the twenty-first century is linked to the establishment of an innovative ecosystem. It characterizes the modern model of innovative development of the region or the country's economy and is a current version of the earlier concept, in particular, the theory of the national innovative system.
The basis of the functioning of the innovative ecosystem is the interdependence between capital and economic resources, economic entities, the goal of which is technological and innovative development. Economic resources in this case include both material resources and human capital. It should also be noted that the innovative ecosystem is essentially a combination of two different systems: scientific research and commercial. At present, it is important to increase the share of the commercial sector in the total volume of investments in scientific research and processing.
Key words: Innovative ecosystem, biological ecosystem, fundamental research, commercialization process, government investment, venture capital, innovative ecosystem model
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