Models of Regions’ Innovative Development: International Experience and Prospects for Ukraine within the Sustainability Paradigm

Abstract

Regional innovation is essential to a nation's overall development since it boosts competitiveness, productivity, and economic growth. By promoting innovation through a variety of tactics, such as expanding the frontier of global knowledge or concentrating on the uptake and spread of alreadyexisting breakthroughs, regions can realize their full potential. Supporting regional innovation requires efficient administration and customized policies that take into account local resources and involve a variety of stakeholders. The relevance of this study is determined by new complexities facing many countries due to geopolitical turbulence and the dynamics of the economic landscape. This article claims that the creation of regional innovation concepts, which predominantly draw from the experiences of advanced regions, has resulted in poor narratives about the experience of less-developed regions. Through content analysis and comparative research, the study critically examines the limitations of endogenous development approaches, particularly the role of formal dynamics within organizations and institutions in regional innovation systems. Drawing on a comprehensive literature review, the paper explores the regional innovation models adopted in the European Union and the United States, assessing their core principles and structural elements. Finally, it evaluates the applicability of these models to Ukraine, proposing context-sensitive pathways for fostering sustainable and inclusive regional innovation within the country’s development agenda.