STRATEGIC RESTRUCTURING OF UKRAINIAN ENTERPRISES: INNOVATION, EU STANDARDS AND VENTURE FINANCING AS KEY DRIVERS FOR EUROPEAN MARKET INTEGRATION

Abstract

The orientation of Ukrainian enterprises towards the European Union market is emerging as a pivotal driver of economic renewal and integrative development of the state. The present article examines the trajectory of strategic restructuring of Ukrainian enterprises, with a particular emphasis on innovation management and the attraction of venture capital, as mechanisms for ensuring effective access to the EU market. The relevance of the research is determined by the provision of duty-free access under the Association Agreement and the Deep and Comprehensive Free Trade Area (DCFTA). This provides enterprises with incentives to modernise production processes and enhance competitiveness. However, it also requires compliance with stringent quality benchmarks and regulatory frameworks. The objective of this study is to provide empirical evidence to support the notion of strategic restructuring of Ukrainian enterprises within the context of the proposed Smart Value Europe strategy. This strategy calls for a transition from a raw-material export model to one grounded in innovation, high technology, and value-added production, aligned with EU market requirements. The methodological framework utilised is founded upon strategic analysis, with the objective of identifying priority modernisation pathways for Ukrainian enterprises in the context of European market entry. A comparative assessment of EU market requirements enabled the correlation of European quality and certification standards with the current capacities of domestic producers. The institutional approach was employed to assess the regulatory environment, with a particular focus on the implications of the Association Agreement and the DCFTA regime for business process transformation. Furthermore, elements of case study analysis were applied, allowing the tracing of practical instances of venture investment attraction and export infrastructure development. The application of these methodological instruments facilitated the formation of a systemic perspective on the strategic orientations of Ukrainian enterprises in the process of integration into the EU internal market. The findings indicate that investments in modernisation, international product certification, export infrastructure development, and the utilisation of support mechanisms offered by European institutions are critical factors for successful integration. The study's practical significance lies in formulating recommendations to enhance the innovative capacity of Ukrainian enterprises, broaden export channels and stimulate employment. Implementing the proposed strategic approaches is expected to reinforce enterprises' international competitiveness and foster sustainable development within the broader context of European integration.