In the article an explanation of the concept of "innovation potential" based on careful study, generalization and systematization of existing scientific approaches is offered. Innovation potential is a set of financial, institutional and other opportunities of the country, the level of realization of which determines the ability to provide positive dynamics of innovative activity and stimulate it in the long term taking into account the intensification of innovation processes and increasing competition in the conditions of financial globalization.The conceptual vision of problems of formation and accumulation of innovative potential in modern conditions is formulated. The essential characteristics and role of the knowledge economy as a basis of a new paradigm of social development are revealed. The knowledge economy should be considered as a component of an innovative economy, based on productive knowledge and quality education. Priorities of realization of innovative potential for maintenance of progress of economy of Ukraine on the basis of intensification of intellectual resources use are substantiated. At the same time, it is important to apply effective fiscal and other instruments to stimulate the formation of innovative potential in the context of the development of its resource and institutional component. Emphasis is placed on the need to protect intellectual property and develop mechanisms to encourage IT-professionals to patent their own developments and inventions in Ukraine. The importance of continuing the formation of a quality education system has been proved, which should be stimulated by the active functioning of the NationalAgencyforHigherEducationQualityAssurance.
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Demchyshak et al. (2019) studied this question.