Groznyy I. Organizational and economic mechanism of venture capital usage in the innovational activity of enterprises

Object of research are the processes describing financing of innovational activity in modern conditions of managing. The purpose of research is development of theoretical bases of use the capital in domestic innovational activity and development of practical recommendations on the organization financings of innovational activity in view of specificity of modern conditions of managing. Methods - works of domestic and foreign experts on problems of innovational activity, statistical methods, the analysis and synthesis, a method of expert estimations, mathematical modelling. Results: the mechanism of motivation of subjects of enterprise activity to participation in innovational projects is developed, the model of an estimation of efficiency of a portofolio innovational projects is offered; the organizational - economic mechanism of use the capital in the domestic market of innovations; the methodical approach to definition of structure a cycle at financing innovations; classification of economic characteristics businesses; the approach to minimization risks at selection of innovational projects. Novelty: for the first time the mechanism of motivation of subjects of enterprise activity to participation in innovational projects that allows as against existing to expand sphere of use the capital in innovational activity is developed and to raise its intensity; the model of an estimation of efficiency of a portofolio innovational projects is offered on the basis of use of average norm of profitableness for the capital, in profitable projects and the transformed internal rate of return of a profitable segment of a portofolio that provides acceptance of rational decisions on financing innovational projects with a different degree of risk; the organizational - economic mechanism of use the capital in the domestic market of innovations is advanced; the methodical approach to definition of structure a cycle at financing innovations; have received the further development classification of economic characteristics businesses; the approach to minimization risks at selection of innovational projects. Area of use - branch.