SMALL INNOVATIVE BUSINESS DEVELOPMENT PROBLEMS IN GEORGIA

Abstract

The sustainable development of small innovative entrepreneurship is quite a difficult task and requires systematic work, which must involve both the state, academic and industrial circles. It is necessary to create connecting rings between these areas. Based on these trends, a whole set of measures should be developed and implemented, which should be aimed at the mass acquisition of innovations. It should be noted that only with the fruitful interaction of science, entrepreneurship, society, and state and municipal bodies will it be possible to ensure the rapid pace of economic development of the country and the establishment of an innovative economy. Georgia has a positive attitude towards expected innovations along with the development of the country's economy. The relationship between income level (GDP per capita) and innovation is positive. A positive trend line indicates expected innovations in terms of revenue levels. Georgia's performance is in line with expectations of its level of development, the relationship between the input and output of innovation is negative. Georgia produces less innovative products compared to the level of innovative investments.