Innovative business models in the agricultural sector: international experience and adaptation opportunities in Ukraine

Abstract

In today's globalization and acceleration of technological changes, the agricultural sector is becoming an important platform for implementing innovative business models. Innovation is a key factor in increasing production efficiency, improving product quality, and reducing the negative impact on the environment. International experience, particularly the experience of the United States of America (hereinafter – the USA) and the European Union (hereinafter – the EU), demonstrates significant success in using innovations in the agro-industrial complex. However, the issue of adapting these models to Ukraine's conditions remains open and requires a thorough analysis. The article is devoted to considering the international experience of innovative business models in the agricultural sector and the possibility of its adaptation in Ukraine. It was determined that adapting innovative business models in Ukraine's agricultural sector is a critically important step toward increasing Ukrainian agriculture's competitiveness on the world stage. Business models in the agrarian sector of successful innovative international practices of the EU and the USA were analyzed to adapt them to Ukrainian conditions. It has been established that Ukraine has significant potential for implementing innovative business models thanks to its natural resources and agricultural traditions. However, certain factors must be considered for their successful adaptation, such as infrastructural challenges, financial support and investments, human resources, legal regulation and policy, and circular economy. It's been demonstrated that the introduction of international experience and technologies can optimize production, reduce costs, and enhance resilience to economic challenges. However, to successfully implement these models, it's crucial to address several internal barriers, such as imperfect infrastructure, insufficient investment, and a shortage of qualified personnel. Overcoming these barriers is a key step towards the successful adoption of innovative business models in the agricultural sector. Attention was focused on the broad prospects for introducing innovations. Ukraine has every chance to become a leader in the region by using modern business models in the agricultural sector.