Legal aspects of grant financing as a tool for implementing state policy in the field of innovation
Authors: Zinych Liubomyr , Zinych Vasyl 
Published: November 2024

The article explores the significance of grant funding for innovation in various sectors. The authors emphasize the need for transparent and fair grant allocation processes, clear objectives and performance indicators, open and accessible information about programs to mitigate potential risks, and the creation of favorable conditions for innovation, economic competitiveness, and sustainable development in Ukraine. The concept of a grant is defined according to Ukrainian legislation, and characteristics such as purpose, competitive selection, financial limitations, reporting requirements, and regular distribution are provided. These characteristics can be grouped into two categories: the characteristics of grant allocation and the characteristics of grant utilization. The characteristics of grant allocation include purpose, competitive selection, financial limitations, duration, reporting, and regular distribution. These characteristics determine how a grant is provided, who can use it, and under what conditions it is provided. Describing the characteristics of grant utilization, it is important to note that they represent the rules for using grant funds, or how the funds received through a grant can be used.Grant funding is a type of financing that has its own characteristics and differences compared to other forms of funding, such as budgetary funding. It can be used to develop and implement effective grant programs, as well as to increase awareness and public support. This type of funding helps reduce risks associated with innovation and creates favorable conditions for exploring new directions in science and technology. Grant funding is an important tool for the government and other organizations to support promising projects, thereby creating an innovative environment and enhancing the country’s competitiveness in the global innovation dimension. Successful grant projects in the field of employment and entrepreneurship, specifically: “eRobota” and “Vlasna Sprava” , have been discussed in the article. These programs have created thousands of new jobs and support the development and implementation of innovative business ideas. Additionally, various aspects of the grant program «Culture. Regions» have been identified. This program aims to support innovative projects and promote creative approaches in the cultural sphere. It also contributes to the development of cultural initiatives at the regional level and the implementation of innovative technologies, as well as the preservation and popularization of cultural heritage.Grant programs related to digital transformation in education have been analyzed. These programs aim to accelerate the digitization process in Ukraine and provide education and resources for professionals in digital transformation. They cover a wide range of aspects, from developing digital strategies to implementing digital infrastructure and promoting digital education.Grant programs play an important role in fostering innovation in various sectors, including culture, education, and entrepreneurship. They provide financial support and resources for the development and implementation of innovative approaches, technologies, and research. These programs contribute to the overall innovative development of the country’s economy and the achievement of national policy goals in various areas.