Innovation incentive mechanism in the construction industry

Abstract

Abstract The construction industry carries out effective innovation activities and is characterized by dynamic creation and implementation of construction technologies. In current economic conditions, the most acute problem is intensification of innovation activities of enterprises and restoration of the investment potential of the construction industry. The author developed an organizational economic mechanism for implementing innovative technologies into the construction industry. The mechanism covers the full cycle of the innovation process, determines the list of its main participants, their functions, and is based on the principles of consistency and integrity. This integral approach makes it possible to plan the innovation process due to the shared information space which has to be created by the government. The article describes a method for assessing the economic efficiency of the innovation process in the construction industry, calculating the economic effect of an economic entity for a certain period and identifying the level of innovation activities of enterprises. Innovation activity indicators are used to evaluate achievements of development and implementation of advanced construction technologies.