Economics Department of Pavlo Tychyna Uman State Pedagogical University initiated "Innovation component of modern economic development" International Scientific Conference. The Conference was organized by the Department of Economics of Enterprise, Finance, Accounting and Auditing of USPU (Chairman of the Department is Anatoliy Muzichenko, Professor, Doctor of Economical Sciences), Higher managerial school of Legnitsa (Poland), Togliatti State University, Togliatti (Russia) and Batumi Shota Rustaveli State University, Batumi (Georgia).

The conference was attended by the scientists, young researchers, graduate students and students of leading universities and institutions of Ukraine, in particular, from the National Technical University "Kyiv Polytechnic Institute", National University of Life and Environmental Sciences, Open International University of Human Development "Ukraine", Economic Research Institute of the Ministry of Economic Development and Trade of Ukraine, Kyiv National Economic University named after Vadym Hetman and others. In total 113 participants representing 17 local and foreign agencies provided 86 reports to analyze the complex socio-economic problems in our country today. The work of the conference was conducted in the form of plenary meetings and scientific sessions.

The plenary session of the conference was opened with the greeting of Larysa Tkachuk, the Vice-Rector for Research. The reports "Relevance of the establishment and operation of innovative techno structure" by Professor Dmytro Stechenko, “Innovative formation of food resources in Ukraine" by Professor Vasyl Zbarskiy, "Economic growth and economic development: innovative approach of international experience” by Mr. Md Mominul Haque, the Vice-President of SIC Academy (UK, People's Republic of Bangladesh), “Economics of Algeria: present situation and prospects” by Krout Walid (Monturi University, Algeria), the foreign student of the Preparatory Department, and “Historical aspects of socio-economic development of Zimbabwe” by Macheka Precious, also a foreign student of the Preparatory Department, and other speakers were very interesting and informative. All the reports were of vital importance and called for immediate discussions among the participants. The delegates continued their work in 6 sessions.

The conference enabled the researchers to exchange views on research findings, establish business contacts for future cooperation, and determine the future directions of the current researches. The International scientific conference was a high organizational and scientific level. All guests noted the high quality of reports, scientific novelty of the proposed developments and expressed their sincere gratitude to the organizers of the conference.

Due to the relevance of the issues discussed at the conference the monograph reports of participants are going to be published shortly.