EN
The Ukrainian market of innovation investment can be referred to as oligopolistic one in view of the identification criteria. Regarding the first criterion, market participants, e.g. buyers and sellers of innovation resource, economic transformations led to decline in the share of innovation enterprises, along with inaction of banking institutions at the innovation investment market. Besides that, there is a lack of specialized innovation banks (there is only one in Ukraine), legal withdrawal of pension funds from this market, non-engagement of insurance funds, miserable contribution from venture funds ( 7 are registered, but only 4 operates, and their investment in high tech sector makes up not more than 5% of the total direct investment). As a result, the overwhelming share of innovation investment comes from internal funds of enterprises. The second and third criterion, dependency between participants of the national market of innovation investment, and non-price competition, is also in play. Thus, the price of investment resource is controlled by stronger and more influential participants due to inadequacy of the information infrastructure. As for the fourth criterion, access of outsiders to the national market of investment resource, it is restricted by bad investment climate, insecure proprietor rights, defects of licensing regulations, restricted information access etc. As a result, funds of foreign investors make only 18% of the total amount of innovation investment. The dynamic analysis of the Ukrainian market of innovation resource shows that it has followed the oligopolistic tradition (establishment of resource sellers by way of mergers with stronger competitors) since the beginning of 90s, e.g.