Ризики та особливості венчурного фінансування інноваційних проектів: обліковий аспект

Abstract

У процесі дослідження виявлено характерні особливості та тенденції розвитку венчурного фінансування в Україні. Визначено ризики, характерні для венчурного фінансування, які обумовлені його особливостями та специфікою механізму такого фінансування. Виокремлено шляхи мінімізації та уникнення ризиків венчурного фінансування для інвестора та підприємства-реципієнта. З’ясовано необхідність розробки механізму формування обліково-аналітичного забезпечення управління ризиковим венчурним фінансуванням інноваційних підприємств, що зумовлена потребою у залученні ризикових інвестицій для розвитку інноваційних проектів. Ключові слова: бухгалтерський облік, обліково-аналітичне забезпечення, венчурне фінансування, венчурний капітал, венчурні інвестиції, інноваційні підприємства, ризики.

The problem of transition to an innovative model of economic development becomes more urgent for Ukraine in today's business conditions. The lack of traditional sources of funding due to the high risks, especially, of innovative projects at the early stages of their implementing plays the role of a deterrent to the economic development of the country, including its innovative development. Venture financing, the effectiveness of which has been confirmed by many developed countries, is one of the most perspective ways of implementing the innovative research projects. At the moment, the development of venture financing and direct investing in Ukraine is one of the priorities of the state policy in the field of innovation and is a prerequisite for a promotion of innovative activities and improves the competitiveness of the domestic economy. In general, the principle of venture financing involves the built-in mechanism of selection of innovative projects, i.e. such projects at the early stage get an assessment of their prospects on the market.Prospects for the development of innovative economy in Ukraine and in the world will depend not only on the presence of the latest technologies in the country and available financial resources, but also on the use of risk venture investments, in particular kinds of risks venture financing of innovative projects require deeper research, including the study of their impact on reflection of venture investments transactions in the accounting system and during the analysis of venture activity. Risks in the area of venture financing include the occurrence of certain events, under which the venture capitalist and the recipient company don’t achieve desired results while implementing venture activity and realization of innovative product implementation. Specific characteristics and trends of venture financing in Ukraine have been identified in the study. Risks typical for venture financing, which are due to its specific characteristics and mechanism of such funding have been determined. Ways of minimizing and preventing risks of venture financing for investors and for recipient company have been highlighted. The necessity of developing of accounting and analytical management support of venture financing of innovative enterprises has been found, that is caused by the need of attracting risk investments for the development of innovative projects. Keywords: accounting, accounting and analytical support, venture financing, venture capital, venture investments, innovative enterprises, risks.