Year of Graduation
Development of economic efficiency of an innovative project (on the example of the project" Integrated technologies of wood processing ")
Faculty of Economics
According to online magazine "Bigness" 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. However, launching of a new product to market requires significant investment at the initial stage. Therefore, companies need to correct estimate what the source of funding for the project will be the most effective taking into account company's specificity. Only by the correct choice of the source of funding may be create necessary conditions for management of financial capabilities and their concentration on the key directions of innovation. The aim of this work is research on the dependence of the innovative project's economic efficiency on the choice of the source of funding. To achieve this model of the source of funding choice was developed for innovative projects. In practical calculations economic efficiency and risks of innovative project "Integrated technologies of wood processing" were evaluated with regard to following funding sources: government funding, venture financing, bank credit and self-financing. As a result, the dependence of the size of innovative project's economic effects on the choice of the source of funding was identified.