Innovation potential of startups: evaluation criteria and diagnostics

Author:

Tkachenko Alla1,Voronin DmytroORCID

Affiliation:

1. Zaporizhia Polytechnic National University

Abstract

Innovation plays a key role in the development of startups and can be considered from different aspects. Because innovation helps startups create unique products and services that allow them to stand out in the market. It is generally accepted that innovations contribute to increasing the productivity and efficiency of business processes. The introduction of new technologies allows to reduce costs, optimize production and improve the quality of products. The assessment of innovation potential is important for the success of startups from the point of view of strategic development and investment attraction and is a key element of strategic management of startups, contributing to their successful development, competitiveness and stability in the market. The article emphasizes that the use of an integrated approach, which includes quantitative and qualitative methods, as well as specialized analyses, will allow to obtain a comprehensive view of the innovative potential of startups. This approach will contribute to the development of effective strategies for the development of startups and increase their competitiveness in the market. The purpose of this scientific article is to define and analyze the criteria for evaluating the innovative potential of startups, as well as to develop effective diagnostic methods and tools that will help optimize their development and increase their competitiveness on the market. Assessment of innovation potential is a key element of strategic management of startups, contributing to their successful development, competitiveness and stability in the market. The article indicated approaches, criteria, and methods that can be used to assess the innovative potential of startups.

Publisher

West Ukrainian National University

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