Importance The current status of agriculture in Russia highlights the need to improve the innovative activity of agricultural goods' producers. Innovation activity is essential for the agribusiness development. However, the farmers' limited financial resources do not allow them to implement fully this direction. Obviously, the priority is the creation of favorable financial conditions to implement high-quality innovative investment projects. An innovation activity of regional agribusiness is the subject of this article. Objectives The goal of research is to examine the issues of formation and functioning of innovation in the agricultural sector, identifying sources of financing investment projects, development trends in the innovative activities development in the Stavropol Territory agribusiness, the assessment of proposed investment projects initiated by the Stavropol Territory authorities. Methods Using the statistical methods and econometric methods, we have evaluated the Stavropol Territory agribusiness, studied investment projects proposed by the driving force of the region, and also identified the most promising projects for investment. Results We underline that improving the effectiveness of innovation activity in agriculture is one of the main conditions for agricultural production development in a market economy. The main element of innovation is a novelty, allowing operation of new processes or product development, which are required in the market. The results of the evaluation of regional investment projects implementation have shown that project progress is not estimated by regulated performance indicators, and they are only used during the project documentation development. Conclusions and Relevance We conclude that currently, there is the necessity to develop an incremental algorithm of financial support for innovation activity at the regional level and the adjustment scheme of interaction with various levels of the Government in the direction of transparency and consistency in assessing the use of appropriated funds.
Keywords: innovation activity, agribusiness, financing, investment project, factor, development
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