Industrial policy determines the guidelines for developing the innovative power of any entity in the global economy, including the European Union. The effectiveness of industrial policy contributes to the favourable innovation climate and is the driver of economic development. Thus, the analysis of the European Union's current industrial policy and innovation strategy is essential for Ukraine. The article aims to study the current industrial policy and innovation strategy of the European Union. The work examines the current industrial policy and innovation strategy of the European Union. It is noted that the evolution of modern industrial policy in the European Union is associated with the use of two models: vertical (selective) and horizontal (functional). It analyses the provisions of the New Industrial Policy of the European Union 2021–2027, which were grouped in three documents. The measures proposed by the European Commission for the restructuring of European industry have been identified. It has been found that today the European Union ranks only third (after China and the United States) in the development of innovative researce and development. The research reveals that the European Union today actively uses the existing integration tools as a priority to "pull" the lagging countries to the level of innovative development of the advanced group of member states. Restrictions on the domestic policy of the European Union member states in technological development have been systematised. The article analyses the current strategy of the European Union in the field of innovation and reveals the goals and directions of innovation development provided by it. It presents the most important mechanisms that form the basis of the European Union's policy in supporting "open innovation". However, it is concluded that the European Union today is actively using existing integration tools to "pull" lagging countries to the level of innovative development of the advanced group of member states (27), which should lead to increased innovation and competitive power of the European Union as a whole.

In modern economic realities, the formation of regional/territorial innovation systems, or «innovation ecosystems», is one of the effective mechanisms for intensifying the creation and implementation of new technologies and innovation strategies. Within the framework of the modern regional innovation system of the European Union, the object of its functioning is the space of development, the goal is to expand through open access and support high innovation activity of participants, and the result is to enhance positive practices and effects. The aim is to study the role of the regional innovation system of the European Union in the development of the innovation market of member states. The research methodology involved extensive analysis, synthesis, comparison, and generalisation tools. It is proved that in the modern innovation market of the European Union, a kind of multilevel hierarchy with different institutional conditions has been formed. It is determined that today the degree of «network integration» of the regional innovation system of the European Union into the global innovation network, its place and market position in the global value chain is determined by the share of value-added created by the country/region in its export value. It is noted that European multinational companies are an essential subject of the European Union regional innovation system. The article analyses the concept of «smart specialisation», which is inscribed in the European Union innovation policy. It is concluded that the modern feature of the European Union regional innovation sustem is the active use of the technology platforms, whose major competitive advantage is the transformation of innovative tools of the technological process into market control tools. As a materialisation of holistic technologies based on fundamentally new scientific and technological results, technological platforms are an ideal communicative structure for improving the original idea through multilateral collaboration. Within the regional innovation system, the European Union’s multinational companies are now the owners of leading and highly efficient technology platforms, successfully forming key network nodes and structuring innovation-production and information-communication processes.

The article examines the essence of the global innovation capacity of the member states of the European Union and its interconncetion with involvement in the processes of international economic integration and disintegration. It is noted that the global innovative force has a significant impact on stable economic growth and competitive positions of any economic entity in the world arena. In addition, it was determined that the unification of countries into interstate integration groupings leads to the transformation of the innovation capacity of the member country and the formation of the innovation capacity of the international integration associations. As a result of the study, it was noted that today there is no single methodology for measuring innovative capacity. As part of the innovation capacity research of the European Union member states, the most prominent and frequently used method for measuring the innovation capacity of the country amongst of global economy, namely the global innovation index, is considered. The aim of this article is to compare the positions of the innovative capacity of the member states of the European Union and to study how the integration and disintegration processes in the European Union affect the innovation capacity of participants and, in the prospect, develop a methodology for ranking the innovation capacity of interstate integration associations. The positions of the innovation capacity in the global economy of the European Union member states are analyzed according to the global innovation index. It has been established that five member countries of the European Union are in the top 10 most innovative economies in the world economy. The innovation capacity index of the European Union 2020 is proposed to be calculated and was calculated. It is noted that albeit the ratings do not give any propositions, but only actually determine the state, however, with their assistance it is possible to carry out adequate monitoring, analysis, forecast of activation and measurement of innovation leadership of all economic and innovative entities of the global economy. It has been proved that methodological approaches to measuring the innovation capacity of the subjects of the global economy ought to be improved furthermore ratings should be developed not only in the context of countries, but of international integration associations as well.

The essential conceptual component of the innovation power of the EU economy in the last decade is the paradigm of the "new innovative worldview", which is based on the conceptual apparatus of "open innovation", called "Open Innovation 2.0». The research aims to study the modern paradigm of the "new innovative worldview" of the European Union. The research methodology involved extensive analysis, synthesis, comparison, and generalisation tools. The article examines the global paradigm of the "new innovative worldview" of the European Union. It defines the main features that characterise the "Open Innovation 2.0" of the EU. The paper proves that knowledge and innovation remain priority areas for developing the innovation power of the European Union. The emergence and development of "open innovation" are associated with a synergistic worldview of the evolution of economic systems and the deep media informatisation and digitalisation processes, which stimulate the computer revolution and virtualism. It demonstrates that the characteristic feature of economic development of EU member states is openness to change, the desire to improve the quality of life, the level of competitiveness of products, services and all types of resources provided by innovation as one of the most critical drivers of social development. It analyses the innovation power of the European Union member states according to the European Innovative Scoreboard. The article presents the rating of EU member states on innovation force. It founds that Sweden is still the leader in innovation in the EU. It considers the European Union's innovation strategies "Europe 2020" and the new six-year Horizon Europe – the EU research and innovation framework programme 2021–2027. It is concluded that in current conditions, the global paradigm of the "innovation worldview" of the European Union is that by pursuing an active policy of dissemination of innovation and new knowledge, EU member states contribute to the fact that regional policy, previously redistributive, all acquires more features of structural approach. The synergetic effect is achieved by combining member states' own national innovation strategies and participating in supranational, pan-European innovation programs.

The article examines the differentiation of economic indicators of European Union Member States' economic, scientific, and technological development in the context of the asynchrony of the European Union innovation force’s disposition. It determines the existing connections between the national scientific and technical policies/strategies of the European Union Member States in integration and economic cooperation. As a result, it was found out that today, the economic growth of European Union Member States is no longer determined by the sole factor of their better access to aspects of production. More critical are the cross-border technological chains that determine the dynamics of the centrifugal forces of the integration association, the mechanisms of economic convergence and the "repulsion" of the European Union. It is concluded that in current conditions, the objective feature of the interaction of economic integration and innovation of European Union Member States is that the higher the capacity of the internal market, the greater the amount of profits and the ability to write off costs associated with innovation and inventions in the increase in sales volumes. Companies operating in a more extensive integrated market with a global level of competition have a higher innovation motivation. In modern economic realities, innovation policy in the European Union is based on delegation of differentiated powers to the regions; development, evaluation, implementation and monitoring of regional innovation strategies, which determine the development priorities of each region based on its competitive advantages and compliance of the strengths of the innovation sphere with business needs; prompt response to European market trends, avoiding duplication of effort. Some regional innovation strategies, based on support for cluster initiatives and public-private partnerships, have been developed by the industrialised European Union Member States such as Austria, Belgium, Germany, Spain, Italy, and France.