IMPLEMENTATION OF INVESTMENTS IN VARIOUS STAGES OF THE LIFE CYCLE OF THE INNOVATION PROJECT
Objective: analysis of the investment process at various stages of the life cycle of the innovation project. Methods: a dialectical approach to the cognition of social phenomena, allowing to analyze approaches to the implementation of investments at various stages of the life cycle of the innovation project. Also, general scientific methods of research (dialectics, analysis, synthesis, systemic, complex) were applied in the work, as well as other special techniques and procedures. Results: Based on the results of the analysis, it was revealed that, in accordance with the most common approach, the following stages of the life cycle of the innovative project are distinguished: sowing; Start-up; Early growth; expansion; Late. Each stage is characterized by certain sources of funding, the choice of which depends on the amount of required investment, the industry in which the start-up operates the purposes of using financial resources, the round of financing, etc. Around of financing means providing funds for a specific task within one of the stages of project implementation. There are the following rounds: presiding round; Sowing round; Round A - create a commercial version; Round B - maintaining early growth; Round C - growth in the market; Round D - sale to a strategic investor or holding an IPO. In each subsequent round of financing, new goals arise for companies requiring more investment. Within the framework of each round, several investors can be attracted, both already included in the company's capital earlier, and new ones. Scientific novelty: general scientific methods of research, such as dialectics, analysis, synthesis, system, and complexity were used in the article. Practical significance: the main provisions and conclusions of the article of work can be used to realize investments at various stages of the life cycle of the investment project.