State support as a driver of innovative entrepreneurship development in the EAEU countries

Introduction: for the member states of the Eurasian Economic Union (EAEU), the intensive and extensive development of national innovation systems (NIS) appears to be one of the most important competitive advantages. Enterprises, the entities of the so-called “Schumpeterian entrepreneurship” are the direct participants of the processes under NIS, striving to optimize their activities, through innovations in particular. Objectives: to identify the role of the state in the development of innovative entrepreneurship in the EAEU member states and to consider the key mechanisms of state participation in the formation of innovative companies. Methods: analysis of instruments of state support for innovative entrepreneurship; statistical and correlation-regression analysis; ranking approach. Results: the study systematized the information on the instruments of state support for innovative entrepreneurship used in the EAEU countries; some indicators of innovation activity were studied; a correlation analysis of the relationship between government funding and innovative development in the EAEU member states was carried out; based on correlation and regression analysis, the main recommendations were formulated to increase the effectiveness of government participation in the development of innovative companies. Conclusions: the authors found out that the degree of state support affects the development of innovative entrepreneurship in the EAEU countries. In addition, it was revealed that at present there is no unified supranational system for regulating innovative entrepreneurship, the development and implementation of which is necessary for further integration and increasing the competitiveness of the EAEU member states.