Approaches determining effectiveness of innovative investment activity

Development of innovative investment activity and environment specificity of its implementation require appropriate methodological support. Evaluation of the process effectiveness is based on the global and domestic experience. Improvement of approaches should provide for comprehensive and objective assessment of the process. The new assessment technique should fully characterize feasibility of those or other innovations and their impact on the results of macro or micro-economics, business or production management, as well as return on investment. Currently existing approaches have several disadvantages: the database used to analyze effectiveness; methodology of evaluation processes, which often become the focus of estimation and not the changes that occurred as a result of reorganization. The proposed approach, evaluating effectiveness of innovative investment activity, requires consideration of dynamics inherent to the process. The approach also involves understanding of the concept effectiveness by both parties: innovators and investors alike. The types of analysis used for targeted evaluation are scientific, technological, marketing, financial, economic, social, and ecological ones. The use of the described approach to evaluating effectiveness of innovation and investment activities will provide a reasoned answer to the question of its implementation, effectiveness of separate steps, as well as effectiveness of the complex as a whole.