“Ukraine’s position now is the result of actions taken 5-10 years ago,” Vasyl Khmelnytsky

This year, Ukraine lost two positions in the ranking of innovative countries from Bloomberg and ranks 58th. This is the result of actions taken 5-10 years ago. Our success in the future depends on the foundation we lay today. According to Vasyl Khmelnytsky, the founder of the UFuture holding company, it is necessary to invest in the development of human capital, business, institutes, research and technology — to create an innovative economy.

In his column to NV, he shared his views on the basics of innovation structure and ecosystem:

• The key problem of Ukraine is that there are practically no people capable of creating innovative enterprises and productions. To take a step towards an innovative economy, it is necessary to invest primarily in education, in the development of modern industries and to stimulate the development of innovative entrepreneurship.
• Innovations in production are a constant search for a new way to satisfy customers today and in the future. Regardless of the type of production, it is necessary to add innovative approaches, simplify and improve processes to improve quality and service.
• Innovation is also needed by the management part of the business, in particular through the lean methodology or “savings production”. Created on my initiative, the Lean Institute in Ukraine (part of the Lean Global Network) actively cooperates with Ukrainian companies and helps them save millions by making production innovative through managerial thinking and simple technologies that are available to everyone.

Read more about how to stimulate the development of innovation in important areas for the economy via the link.