1. developing the information, expert consulting, and education infrastructures for innovation activities.

Key Problems

  • The existing innovation infrastructure does not provide balanced access to various resources (capital) and services for participants in the innovation process, which limits commercialization of the results of scientific-technical activity.

  • The sector composed of new innovative companies is the fundamental source of novel products and technologies; however, the development of the innovation infrastructure is inadequate for the real development problems faced by small and medium innovative enterprises, while the state system for the support of such enterprises is oriented toward the needs of the majority of the small business community (as it now exists) and not its innovation-oriented segment.

  • Innovative small- and medium-sized firms are insufficiently integrated into the value formation chain, and consequently the cooperative network of “science and educationinnovative small- and medium-sized businessesbig business” is undeveloped. This hinders the “diffusion” of knowledge from the R&D sector and its capitalization in the Russian economy.

  • A very important role in the innovation process is played not only by the participants in the process but also by the relationships among them; however, institutions that stimulate linkages among scientific and educational organizations and innovative firms or between major companies and small- and medium-sized enterprises are currently poorly developed.

  • The low level of effectiveness of innovation activity results from the undeveloped (inefficient) nature of existing institutions (rules, laws) regulating economic relations in the innovation sphere. Institutions in the innovation sphere do not facilitate the civilized and harmonious functioning of the following four competitive markets within the framework of the global economy: (1) intellectual capital,2 (2) innovative capital,3 (3) innovative products, and (4) services in support of innovation activity.


Intellectual capital is the result of intellectual activity in the scientific-technical sphere (industrial property; unpatented results of research, development, and design work; know-how; topologies of integrated microchips; products of breeding and selection; computer programs; and databases).


Innovative capital is capital associated with investment financing of innovation activity and the market for securities of companies in high-tech industries. It includes funding for scientific research and experimental design work as part of the innovation process, venture capital, capital attracted through securities offerings of high-tech enterprises, and long-term bank loans for the expansion of the innovation activities of companies.

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