Venture business development model
Authors:   Lviv Polytechnic National University, Terletska Viktoria 
Published: December 2022

The goals of the article are to study the functioning of venture business in Ukraine, as well as the market of electric cars, its state and dynamics. The purpose of the article is to create effective mechanisms for the formation and development of venture structures, as one of the strategic entities of the economy of Ukraine, through investing in the market of electric cars, which are more environmentally friendly compared to cars with an internal combustion engine (ICE), in Ukraine through modeling . Taking into account the role and importance of the formation and development of venture structures, a modified multi-criteria optimization model of the development of venture structures and their impact on sustainable development (economy, ecology and society) was developed, based on the conceptual provisions formed by the author regarding the conditions of operation of venture structures and the electric car market, and the theoretical basis the concept of sustainable development of the Brundtland Commission (the UN Commission on Sustainable Development, based on the concepts of N. Georgescu-Rogen, K. Boulding, G. Ayres and L. Kohrsen) and the Arrow–Debray model of partial economic equilibrium are used. Today, the global automotive market is developing in anticipation of restrictions on the use of gasoline and diesel fuel and the transition to electric vehicles and hybrids. Ukraine has all the necessary capacities for the production of electric vehicles, although the production is expensive and expensive, there are also the necessary capacities for the development of the infrastructure for electric vehicles. Considering the above, it is expedient to develop the production of electric cars in Ukraine, as well as the infrastructure for electric cars (chargers, components for them, etc.) through venture business investments. In order to stimulate the development of the production of electric cars, chargers, and accessories for them in Ukraine, which will make it possible to create new jobs and increase the share of car manufacturing and related industries in the country's GDP through inclusion in the value added chains of global car manufacturers, it is urgent to develop a development concept venture structures and their impact on sustainable development (economy, ecology and society). Taking into account the role and importance of the formation and development of venture structures, as one of the strategic participants in market relations, and the growing need for the functioning of the “green” economy in the direction of the development of the electric vehicle market through the investments of venture structures, special attention is paid to the modeling of their development. The developed modified multi-criteria optimization model of the development of venture structures and their impact on sustainable development (economy, ecology and society) is based on the conceptual provisions formed by the author regarding the conditions of operation of venture structures and the electric car market, and the concept of sustainable development of the Brundtland Commission (UN Commission on sustainable development, based on the concepts of N. Georgescu-Rogen, K. Boulding, G. Ayres and L. Kohrsen) and the Arrow–Debrey model of partial economic equilibrium. The model describes the market interaction of stakeholders and the relationship between the three elements of sustainable development, manifested in three effects: economic, environmental and social, which can be evaluated through the corresponding results. The model can be interpreted as an analytical reflection of the process of formation and development of venture structures on the stock market during a one-year cycle of interaction of subjects of the market economy. The reflection in the model of restrictions that describe the role of stakeholders in the process of finding a partial equilibrium contributes to increasing its adequacy to real market conditions.