The role of innovation infrastructure in sustainable regional development

<p>Introduction. The relevance of this study stems from the fact that in the context of<br>global competition and rapid technological changes, regions need to develop<br>innovative ecosystems to attract investments, create new jobs, and improve the<br>living standards.<br>The study is aimed at determining the role of innovative processes in transitioning<br>towards sustainable development of regional economic systems.<br>Materials and methods. The study included the following materials: scientific<br>publications and articles on regional innovation development, the role of innovation<br>infrastructure, and sustainable development, published in peer-reviewed journals. The<br>study employed the following methods: theoretical analysis and modeling.<br>Results. The elements of innovation infrastructure were identified and then structured<br>into a hierarchy based on their degree of influence and significance for implementing<br>innovative activities in regional economic systems. Innovation infrastructure is aimed<br>at improving the current state of innovation processes; it particularly influences the<br>production of new high value-added products.<br>Conclusion. The presence of steadily developing innovation infrastructure is a<br>fundamental factor that accelerates the transition to sustainable development<br>concepts when implementing innovative activities.<br>It is crucial to develop more precise and universal methodologies for assessing<br>the impact of innovation infrastructure on sustainable regional development,<br>encompassing economic, social, and environmental aspects. Further research is<br>needed to examine how innovation infrastructure fosters the development of startups,<br>small and medium-sized enterprises, as well as large corporations across various<br>economic sectors.</p>