Foreign experience in supporting innovation

Abstract

The article analyzed the foreign experience of supporting innovation. The authors of the article were to consider the main financial, managerial and organizational-legal mechanisms used by leading countries in the field of innovative development to stimulate innovation. A list of the most frequently used measures to support and stimulate innovation is given. The scientific article outlines the role of the state in enhancing innovation in the leading economies of the world. With the help of the rank correlation coefficient of E. Spearman, the relationship between the share of GDP spent on research and development and its place in the Global Innovation Index developed by Cornell University, INSEAD Business School and the World Intellectual Property Organization was investigated. The result of the study of this relationship was that there is a direct moderate relationship between these two indicators.