Business mechanism of innovation-driven development of the agricultural market infrastructure

Abstract

The article presents a mechanism of innovation-driven development of the agricultural market infrastructure, consisting of 5 subsystems: innovation customers, innovation suppliers, innovation activity objects, innovation process support, innovation regulations. Regional public institutions promoting investment activity establish formal rules for ensuring innovative development. Research institutions as innovation suppliers create innovative products for their further introduction into objects of innovative activity (agricultural sector enterprises in our case). Approbation of innovations and commercialization of inventions takes place with the help of investors and consumers who establish informal norms. The generated mechanism provides a range of positive effects from creation and use of innovations by each participant of the innovative system, which can be commercial, budgetary, social or ecological one.