Innovation financing mechanisms: comparative analysis of various models (grants, venture capital, crowdfunding)

The article provides a comparative analysis of the main mechanisms of financing innovation activities, including grants, venture capital, crowdfunding, business angels and government subsidies. The key advantages and disadvantages of each model are considered, as well as their applicability at different stages of the innovation process. Special attention is paid to the factors influencing the choice of the optimal source of financing, such as the amount of required investments, the level of risk, the timing of raising funds and the degree of control over the project. Based on the analysis, it is concluded that a combined approach to innovation financing is necessary, taking into account the specifics of the project and market conditions.