Development of economic efficiency of an innovative project (on the example of the project" Integrated technologies of wood processing ")

<p>According to online magazine &quot;Bigness&quot; nearly 20% of businessmen who manage their own business in 36 countries around the world believe that the main way to increase profitability is innovation.&nbsp;However, launching of a new product to market requires significant investment at the initial stage.&nbsp;Therefore, companies need to correct estimate what the source of funding for the project will be the most effective taking into account company&#39;s specificity.&nbsp;Only by the correct choice of the source of funding&nbsp;may be create necessary conditions for management of&nbsp;financial capabilities and their concentration on the key directions of innovation.&nbsp;</p><p>The aim of this work is research on the dependence of the&nbsp;innovative project&#39;s&nbsp;economic efficiency on the choice of the source of funding.&nbsp;To achieve this model of the source of funding&nbsp;choice was developed for innovative projects.&nbsp;In practical calculations economic efficiency and risks of innovative project &quot;Integrated technologies of wood processing&quot; were&nbsp;evaluated&nbsp;with regard to following funding sources:&nbsp;government funding, venture financing, bank credit and self-financing.&nbsp;As a result, the dependence of the&nbsp;size of innovative project&#39;s&nbsp;economic effects&nbsp;on the choice of the source of funding&nbsp;was identified.</p>