INNOVATION FINANCING MECHANISMS FOR ENTERPRISES IN UZBEKISTAN: CURRENT STATE, SYSTEMATIC ANALYSIS, AND STRATEGIC DEVELOPMENT DIRECTIONS
DOI:
https://doi.org/10.5281/zenodo.17443631Keywords:
innovation activity, fnancing mechanism, R&D expenditures, technological innovation, investment sources, industrial enterprises, public-private partnership, diversifcation, economic stability.Abstract
This article provides a comprehensive and systematic analysis of the current state of innovation fnancingmechanisms for enterprises in the Republic of Uzbekistan. The research identifes key challenges in funding innovation
projects within the manufacturing sector, including excessive reliance on internal fnancial resources, limited attraction
of foreign investments, and constrained access to commercial bank loans. Particular attention is given to the unequal
distribution of R&D (Research and Development) expenditures across sectors and regions, which exacerbates territorial
disparities in innovation performance.
Using empirical data from 2019–2023, the study examines the dynamics of innovation expenditures, the pace of
technological adoption, industrial innovation activity, and changes in funding structures. The fndings underscore the need
to diversify fnancing sources, expand public-private partnership mechanisms, and implement digital monitoring systems
for innovation projects. This article offers a robust methodological and practical foundation for enhancing the national
innovation ecosystem, accelerating technological transformation, and guiding strategic policymaking for sustainable
economic development.
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