Introduction. The stable relationship between the stages of economic growth, accumulation of knowledge and investment and scientific and technological breakthroughs, which is considered in numerous theories of innovation allows not only to predict the cyclical nature of innovation, but also to prove a direct link between the level of financial support of research and educational activities and the innovative achievements of individual industries and national economies. The modern period of development of agrarian economy requires the organization and financial support of innovative development which would create necessary preconditions for fast and effective introduction of scientific and technical achievements, provide preservation and development of scientific and technical potential of priority directions of development, contribute to the creation of the necessary material conditions to preserve the human potential of science and technology.
The purpose of the article is to assess the state of financial support for innovative development of the agricultural sector of Ukraine and develop ways to optimize it.
Results. Based on the analysis of the level of financial support for innovative development of the agricultural sector of the economy, a low level of efficiency of financial resources was identified, confirmed by the mismatch of the dynamics of increasing allocations and productivity in combination with imbalance of financial sources. There is a further violation of the structure of funding for research activities in the direction of increasing the share of basic research through scientific and technical developments, which narrows the actual potential for innovation. It is established that the obtained results of the analysis in comparison with the previous generalizations of efficiency of scientific activity demand revision of the existing policies of distribution of financial resources between the centers of scientific researches. The current structure of financing innovation in the agricultural sector does not meet the requirements of development and requires a reorientation from the academic and sectoral sector to education.
Keywords: financial support, innovations, innovative development, venture financing, agrarian sector of economy.
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The article was received 10.04.2020