MECHANISMS FOR ENSURING SUSTAINABLE GROWTH OF AN INNOVATIVE ECONOMY THROUGH THE DEVELOPMENT OF VENTURE CAPITAL

This article examines the role of venture capital in fostering the sustainable growth of an innovative economy. The study highlights the importance of venture financing as a key driver for supporting startups, technological advancements, and high-risk innovative projects. It analyzes the mechanisms through which venture capital contributes to economic development, including investment diversification, risk-sharing, and the acceleration of commercialization processes. The research also explores international best practices in venture capital development and evaluates their applicability in emerging economies. Particular attention is given to the institutional, legal, and financial frameworks necessary to stimulate venture investment activity. The findings suggest that strengthening venture capital ecosystems, improving regulatory policies, and enhancing collaboration between public and private sectors are essential for achieving long-term economic sustainability and innovation-driven growth.本文探讨了风险投资（venture capital）在推动创新型经济可持续增长中的作用。本研究强调了风险融资作为支持初创企业、技术进步与高风险创新项目的核心驱动力的重要意义，剖析了风险投资推动经济发展的作用机制，涵盖投资分散化、风险共担以及商业化进程加速等方面。本研究同时梳理了风险投资发展的国际先进实践经验，并评估了这些经验在新兴经济体中的适用性。研究特别关注了刺激风险投资活动所需的制度、法律与金融框架体系。研究结果表明，健全风险投资生态体系、优化监管政策以及加强公共部门与私营部门间的协作，是实现长期经济可持续发展与创新驱动增长的必要路径。