Abstract
<jats:p>The purpose of this study is to interpret the characteristics of the economy’s innovation-driven transformation and to examine their interrelation with the formation of the population’s living standards. Traditionally, economic growth measured through Gross Domestic Product (GDP) has been viewed as a key factor in improving living standards. However, although this indicator remains important, it no longer plays a decisive role in evaluating living standards. This is due to the emerging imperative of transforming the economy on an innovation basis, which requires multidimensional assessments of the consequences of GDP growth. The article substantiates the significance of the ecosystem that facilitates innovation-driven economic transformations and examines the structural framework of its formation</jats:p>