POSSIBLE WAYS OF FINANCING PROJECTS OF TECHNOLOGICAL INNOVATION

A policy of innovations can be considered a strategic component of the overall policy of the economic development of all countries, thereby Bosnia and Herzegovina, bearing in mind the fact that in contemporary conditions, knowledge and information is the basic comparative advantage in international relations. 

Important roles and positions in defining policies are the same in the financing of technological innovations and they belong to: the State (BH), entity, cantonal and municipal authorities; infrastructural technical systems and international science and technology (cooperation) and financial institutions, enterprises and individual inventors themselves. 

The problem with such claims is-Who will buy innovation? 

 We expect of innovators to establish an ability to realize their ideas, to identify and exploit the entrepreneurial opportunity, to develop an interesting and feasible market idea, investing time, effort, money and ultimately to develop value. 
Are they ready for this? 

Long experience shows that in BiH there are four groups of innovators: 
- A successful entrepreneur who has an innovation 
- An innovator who wants to become a novice entrepreneur 
- An innovator who collaborates with established entrepreneurs and 
- The biggest group - an innovator without the entrepreneurial spirit and distrustful of potential partners. 

It is because of this structure of innovators that BiH will have to approach the formation of a policy of innovation and it's financing really carefully. 

Protecting intellectual property rights by the government represents the best mechanism that allows innovators, creators and producers to finance their work through the market. 

There are other models for financing, such as government and international funds and private donors, but intellectual property rights remain the basic and most common type of financing used by individuals and organizations for their work and its dissemination.