The role of trust in promoting innovation networks based on mutual cooperation: a comporative study of public and pri vate sector partnerships

Abstract

The aim of the article. The aim of the article is to study the role of trust in the development of collaborative innovation networks. In particular, the study analyzes how trust between public and private sector partnerships affects the effectiveness of these networks. Methods. In order to achieve the goal set in the research, comparative research methods are used to examine examples of cooperation between the public and private sectors. Analysis and synthesis, statistical analysis and classification methods were also used in the process of writing the article. Scientific innovation. The scientific novelty of the study is that it expands on existing research in this field and reveals the specific effects of public-private sector collaboration on innovation and the role of trust. Practical significance. The practical significance of the research is that it contributes to the formation of new cooperation models and strategies for both public policymakers and private sector leaders. Conclusions. It is noted that as global economic competition intensifies, collaborative innovation in key emerging sectors has attracted considerable attention as a means of promoting corporate development and economic progress. It is emphasized that in order to promote long-term growth of innovation networks, special attention should be paid to establishing and maintaining partnerships for future industrial development, maximizing cross-sector innovation networks, expanding the scale and depth of knowledge absorption. As this is necessary to enhance business competitiveness, expand employment prospects and promote creative economic growth. It is pointed out that establishing developed and reliable partnerships creates a basis for creating new innovations through information sharing and optimal use of resources. Therefore, strengthening trust and mutual confidence is the basis for successful and sustainable cooperation. This serves to ensure the economic and social development of both the public and private sectors.