THE CHALLENGES OF FINANCING INNOVATION OF INDUSTRIAL SPHERE IN GLOBAL TRANSFORMATION

Abstract

The purpose of the research is to identify ways to solve the problems of financing the innovation of industrial industry in the context of global transformations. The problems of innovative activities in the industrial spheres are investigated and the difficulties associated with financial mechanisms are analyzed for this purpose. It is emphasized that the main problem in the development and implementation of innovations in industrial enterprises is financial difficulties. Recommendations on more effective financial mechanisms for innovative activities of industries in the new conditions created by the global impact, and proposals are given on the problems under research.Research methods – a group of scientific methods such as dialectics, analysis, synthesis, 
generalization and comparison is used. At the same time, the opinions of researchers researching the innovations of industrial areas are also taken into account.The results of the research are primarily explained by the effective use of scientific and practical 
results of the study and the formulation of conceptual approaches for the implementation of more effective financial mechanisms in the innovative activities of the industries of Azerbaijan