Financing innovations in the contemporary world
DOI:
https://doi.org/10.5937/Rev2194025MKljučne reči:
financing innovations; economic growth; bootstrapping; crowdfunding; mezzanine financingApstrakt
As a practical application of new ideas, innovation is a multidimensional, complex, dynamic, long-term, and cumulative process based on organizational decision-making, from the stage of a new idea's emergence to its final implementation. There is a strong positive correlation between innovation and economic growth. Access to finance is a key driver of new innovative ventures' creation, survival, and growth. On the other hand, the lack of financial resources prevents and inhibits the growth and development of new innovative companies. This paper considers bootstrapping, crowdfunding, and mezzanine financing as widely accepted, specific innovation funding sources worldwide.
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