Sources Of Financing For Innovative Activities Of Enterprises In The Industry 4.0

Abstract :

The aim of the study was to identify possible sources of financing for innovative activity of enterprises. The very concept of innovation is understood ambiguously. It is usually defined as a radical change, invention or novelty, especially in the context of a product, technology or business management methods. If enterprises will have the possibility to use a wide portfolio of sources of financing innovations, it will influence their development and active participation in the fourth industrial revolution - the concept of Industry 4.0. The study presents an attempt to systematize the definition of Industry 4.0, discusses the main elements of necessary changes in an enterprise. Optimal sources of financing for innovative activity of enterprises will allow for full implementation of the concept of Industry 4.0, which may allow to achieve an unprecedented level of operational efficiency and accelerate productivity growth, which should be taken as a great advantage. New types of advanced production and industrial processes, integration and cooperation of machinery and equipment for human work will allow full flexibility of the company's production systems.