DEVELOPMENT OF CORPORATE VENTURE CAPITAL UNDER THE CONDITIONS OF INTENSIFICATION OF INNOVATIVE ACTIVITY

Mykola Denysenko; Zoryna Yurynets; Rostyslav Yurynets; Ivanna Myshchyshyn

doi:10.36690/2674-5208-2023-2-24-30

Authors

Mykola Denysenko Volodymyr Vynnychenko Central Ukrainian State University https://orcid.org/0000-0001-8767-9762
Zoryna Yurynets Ivan Franko National University of Lviv https://orcid.org/0000-0001-9027-2349
Rostyslav Yurynets Lviv Polytechnic National University https://orcid.org/0000-0003-3231-8059
Ivanna Myshchyshyn Institute of Regional Research named after M.I. Dolishniy of the NAS of Ukraine https://orcid.org/0000-0002-0227-5345

DOI:

https://doi.org/10.36690/2674-5208-2023-2-24-30

Keywords:

investors, corporate venture capital, corporate venture capital investments, business, innovative

Abstract

In recent years, corporate venture capital has gained popularity in all areas of the economy in different countries of the world. Along with traditional venture capital funds, business angels and accelerators, traditional corporations also invest in startups around the world. Most often, these processes take place according to the corporate venture capital model. This makes it possible to remove restrictions on the participation in corporate venture funds mainly of legal entities, will open up opportunities for the participation of various subjects in corporate venture funds, and promotes the investment of funds in innovative structures. The purpose of the article is to analyze corporate venture capital, to identify structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine. During the research, the method of synthesis and analysis, induction (in the study of corporate venture capital, structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine); the method of schematic, graphic images (for the visual display the received results of the study) has been used. The main structural characteristics of corporate venture capital have been singled out. The signs of structural characteristics of corporate venture capital include the parameters of the corporate venture capital investment model, the types of corporate venture investment goals, criteria for deciding on financing a startup for investors and analysts of corporate investment funds, the types of corporate venture capital investments, the main motives for investment by corporate venture capital funds, ways to promote business growth through corporate investment in venture capital funds, the main financial parameters of the sustainability of corporate venture capital. Ukrainian investors appeared in this field literally 5-7 years ago, but their interest in global international startups is already marked. It was established that for Ukrainian businessmen venture investments at the stages of the B+ series are a new stage of expansion of the investment portfolio. The amount of investment depends on the investor's faith in the project and the arrogance and talent of the startup. If «seed» and «angel» investments are calculated on average in hundreds of thousands of dollars, then capital investments in the innovative business are measured in millions and tens of millions. The main goal of corporate venture capital is strategic innovative business development. Activation of activity through corporate venture capital investments in Ukraine is only developing, and much depends on the business reputation and personal characteristics of managers. Ukraine's economy needs integration into global economic processes through the development of corporate venture capital.

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Author Biographies

Mykola Denysenko, Volodymyr Vynnychenko Central Ukrainian State University

Doctor of Science (Economics), Professor, Professor of Department of Mathematics and Methods of its Teaching, Volodymyr Vynnychenko Central Ukrainian State University, Kropyvnytskyi

Zoryna Yurynets, Ivan Franko National University of Lviv

Doctor of Science (Economics), Professor of Management Department, Ivan Franko National University of Lviv, Lviv

Rostyslav Yurynets, Lviv Polytechnic National University

Ph.D. (Physical and Mathematical Sciences), Associate Professor of the Department of Information Systems and Networks, Lviv Polytechnic National University, Lviv

Ivanna Myshchyshyn, Institute of Regional Research named after M.I. Dolishniy of the NAS of Ukraine

Junior Researcher of the Department of Regional Ecological Policy and Environmental Management, Institute of Regional Research named after M.I. Dolishniy of the NAS of Ukraine

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