According to the decision of the Academic Council the Institute of Innovative Entrepreneurship was established in 2012 at the Kiev National Economic University. The purpose of the Institute is to conduct research with social value and contribute to solving urgent problems of economic development of Ukraine.

Activity globalization that is a defining feature of the modern world, destroys geographical boundaries and barriers between markets that previously hindered business development. Innovations are the main driving force to increase its value and efficiency. As a new method of application of knowledge, tangible and intangible assets, innovations are required in any economic situation. Even economic recession should be used as a reason to view areas of investment into innovation, as one of the consequences of the crisis is the necessity to look for new opportunities for growth.

The state, scientific, educational and research organizations can play an important role in creating conditions conducive to innovation. Many modern innovation centers in the world appeared due to targeted state programs of innovative industries. However, the most important role in stimulating innovation activity belongs to businesses. The analysis of the economies of various countries shows that the most important factors of innovation are favorable business environment and fair competition. Even in a difficult economic situation in recent years, the development of innovative products and services is a strategic priority for most companies, and for many of those innovations are a major growth factor.

Ukraine has significant potential in the field of innovation. However, how it will be implemented depends on many conditions, including the operation of the infrastructure. An important factor in this process in a modern knowledge economy is increasing the authority of the national scientific and applied research and bringing it nearer to the business needs. Implementation of academic and research programs and projects based on the potential of recognized educational institutions has been one of the ways to build a modern innovation infrastructure.

Creation of the Institute of Innovative Entrepreneurship at Kyiv National Economic University named after Vadym Hetman is one of the steps towards creating an innovative economy. The Institute aims at development of new projects, offering new ideas and finding new ways to solve the tasks, implementation of original research and educational programs. We believe that Ukraine will be able to build an innovative economy and ensure sustainable development based on systematic use of its innovation potential. Only on such a basis may increase the growth rate of gross national product, ensuring a high level of competitiveness and opposition to global challenges and financial crisis.