NATURE, STRUCTURE AND FUNCTIONS OF THE INNOVATION MARKET

Abstract

The article deals with the subject composition of innovation market, its structure and functions. Subjects of innovation activity continuously interact with each other within the framework of the implementation of innovative projects, the process of interaction of subjects is cyclical. The authors examine the concept of the primacy of supply and demand in the market innovation. Moreover, we consider the concept of external institutional environment, which is a combination of financial and non-financial institutions to facilitate the development of innovative systems. They can be private, national and international. This environment surrounds the market of innovation and it can be called integrated science and innovation space.