Home  Journals  Regional Economics: Theory and Practice  8(539) - 2025 August

Integration of science, production, and marketing in the process of implementing an innovative project

Received: 21 November 2024

Accepted: 27 December 2024

Available online: 28 August 2025

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: L23, М11, O32

Pages: 158-170

https://doi.org/10.24891/itysmp

Subject. This article discusses the significance of innovative developments in the context of market competition.
Objectives. The article aims to consider the key aspects of organizing effective integration of science, production, and marketing in the process of implementing an innovative project.
Methods. For the study, we used a systems approach.
Results. The article proposes an original model for the implementation of an innovative project, which takes into account the necessity of simultaneous development, organization of production, and commercialization of the product. The feasibility of implementing the proposed model through the application of parallel engineering and the creation of cross-functional project teams has been explored. The article identifies the main approaches to organizing interaction with external companies and experts in the process of implementing an innovative project.
Conclusions. The traditional model of implementing an innovative project does not meet the conditions of high competition. Involving representatives of third-party organizations and external experts in the project can help the enterprise compensate for the shortage of its own resources.

Keywords: innovative project, innovation lifecycle, concurrent engineering, cross-functional interaction, open innovation

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