Salivonchyk I. Innovative entrepreneurship as a component of structural modernization of the economy

Based on the analysis of conceptual and institutional foundations and the current interpretation of “modernization” as a category, its characteristics are systemized, thus allowing to improve the approach to understanding modernization as a strategic direction of systemic modernization of the economy on an innovative basis in order to ensure its efficiency and competitiveness. The paper develops a methodological approach to understanding innovative entrepreneurship as a primary part in the transformation of the economic system, occurring in a sequence of interrelated stages: “innovations and innovative entrepreneurship – structural changes – competitiveness – economic development”, which all form innovative research principles for the issue and define its theoretical, methodical, instrumental and organizational concept. It is justified that there are different scientific approaches to the interpretation of “innovation” and “innovative entrepreneurship” categories that scientists consider to be: an integrated process; target change; an outcome; a type of economic activity; a form of intellectual property implementation; a type of entrepreneurship; the process of creation and commercial use of technical and technological advances, etc. A conceptual approach towards innovative entrepreneurship is established through the prism of structural modernization of the economy, whereby innovative entrepreneurship is seen as a means of achieving economic development through the scale of structural changes towards the increase of the share of competitive industries and is defined to be a special type of economic activity focused on creating commodity and technological innovations through practical application of ideas and inventions, which is a prerequisite for structural change, competitiveness and economic development. Key words: structural modernization, innovative entrepreneurship, innovations, innovative development, smart-specialization, incentive mechanism.