Mosiievych O. Venture Financing in the Conditions of Economic Transformation

The essence of venture financing as a tool to stimulate innovation processes, based on the integration of financial institutions in the process of creating and developing innovations, a set of methods and tools for mobilizing financial resources in the innovation segment of the economy, which will accelerate economic growth, transition to investment and innovation model. and increase its competitiveness and provide an opportunity to strengthen the impact of state regulation on the socio-economic development of the country, stimulating the processes of social reproduction. The experience of venture financing system development in the countries with developed and transformational economies is generalized and systematized, which will provide an opportunity to improve the quality of public and corporate finance management in the conditions of economic transformations. Improved institutional principles of venture financing of innovative projects as a dynamic, adapted system to the strategic objectives of socio-economic development of the country; provisions on the peculiarities of the formation and development of the venture financing system, which will contribute to the effectiveness of the regulatory mechanism of financial policy in the field of venture financing of innovative projects; basic principles of formation of venture funds for financing innovative projects, based on the assessment of the impact of exogenous and endogenous factors on the investment potential and features of the investment environment. Developed approaches to the priority areas of financial policy in relation to the development of the national innovation system, the development of venture financing, which will provide an opportunity to stimulate scientific and technological progress and accelerate economic growth; provisions to increase the efficiency of venture financing mechanisms in order to meet social needs and achieve strategic socio-economic goals of the country.