Krasovska O. Justification of the Main Directions of Financial Institutions Participation in the Innovational Activity Development

The object of research is the process of innovation activity financing including interrelations between all its actors (innovation producers, innovation customers, financial intermediations). The subject is the theory and practice of innovation activity financing in Ukraine. Used methods: economic, system and mathematic analysis; statistical data processing; the probability approach; method of sociological surveys. The complex research of the conditions of innovation activity financing in Ukraine is conducted. The main directions of participation of financial institutions in this process are justified. The methodology and technique of deflators for the definition of the main tendencies of changes in financing of S&T and innovation activity on industrial enterprises is adapted. The approach to procedures of innovation projects financing is developed. The data concerning the financial sources of innovation activity of Ukrainian SMEs are supplemented. The approaches of using the Innovation European Scoreboard in Ukraine are advanced. The results of the research were used during the social and economy programs development in Chernivtsy region. Also the results are using in the educational process of the Ukrainian financial and economic institute.