THEORETICAL APPROACHES TO THE DEVELOPMENT OF VENTURE INVESTING IN INNOVATIVE ECONOMIC SYSTEMS
The article gives several approaches to the understanding of venture investment in innovative economies. The article describes the basic functions of venture investment. The article presents the author´s view on the nature of venture capital investment. Such investment is the integrating mechanism of the reproduction process. The article reveals the historical background of venture investment (an example of the United States in the development of an innovation cluster in Silicon Valley). The study concluded that the venture capital allows the integration and optimization functions of investment and innovative processes to meet the challenges of socio-economic development of regions. Venture capital to optimize the life cycle of innovation as an economic tool to support the effectiveness of the knowledge economy.