Improving The Mechanism Of Financing Innovation Activity In Enterprises: International Benchmarking And Scenario Assessment

This article examines mechanisms for financing innovation in Uzbek enterprises through international benchmarking and scenario analysis. Using Global Innovation Index 2025 indicators and national statistics for 2020–2024, the study identifies low R&D intensity (0.1% of GDP), limited credit availability (34.7% of GDP), and negligible venture investment, despite a 42.4% business contribution to R&D financing. Three financing scenarios to 2030 are assessed, highlighting the need for accelerated investment. The study proposes a stage-based financing framework integrating appropriate instruments across research, development, commercialisation, and scaling.