Serdiuk, O. I.Сердюк, Ольга Іванівна2026-01-062026-01-062025Financial management of startups in the formation of international cluster business structures as a security strategy for innovation of territorial communities / A. Yeremenko et. al. Financial and credit activity: problems of theory and practice. 2025. Vol. 6 (65), Pp. 626-636 DOI: 10.55643/fcaptp.6.65.2025.5080https://dspace.pdau.edu.ua/handle/123456789/19960The article examines the financial management of startups in the process of forming international cluster business structures and justifies its role as a security strategy for the innovation of territorial communities of Ukraine. It is shown that in the conditions of a turbulent security environment, large-scale digital transformation, and increased internationalization of production, startups become key agents of economic stability, as they are able to accumulate external venture capital, integrate into global networks, and form cross-border innovation flows. The dynamics of investments in startups in Ukraine in 2020–2024 are analyzed, which showed both the cyclical nature of development and the shift in emphasis towards the sectors of defense technologies, digital infrastructure, and high-tech solutions. It is found that startups integrated into international clusters demonstrate higher indicators of financial performance and stability compared to local innovation initiatives. The spatial differences in the innovative develop- ment of Ukrainian cities, which act as the cores of cluster interactions and determine the trajectories of the formation of local innovation systems, are revealed. Based on the reconstructed data, a quantitative assessment of the innovation and security potential of territorial communities was formed using the SICI index, which allowed establishing a direct relationship between innovation activity, the level of cluster integration, and security resilience. It was shown that communities located in the zone of influence of large technological hubs transform innovation resources into increased economic and social security much faster.enfinancial managementstartupinnovationclustercommunitysecuritystrategyinternational economic relationsinternational division of laborinternationalization of productionArticle