Foundations as institutions of innovative development in the regions

How can Russian regions implement an innovative scenario of socio-economic development? On the one hand, the answer is obvious – we need an effective model that will increase investment in research, development and education. But, on the other hand, who is this strategic player who will put together such a model and effectively implement the strategy?

The report of the research team of the Vologda Scientific Center of the Russian Academy of Sciences "Formation of funds for supporting scientific, scientific, technical and innovative activities in the regions: state, tasks, implementation mechanism" states that in order to launch the processes of local innovation activity as a driver of accelerated economic growth and progressive development of regions and the country as a whole,it is necessary to create regional scientific, technical and innovative activities.

Based on international and Russian experience and current legislation, the researchers propose to finance such funds through deductions from the revenue of industrial enterprises operating in the region.

According to the researchers, the creation of funds to support scientific and technological activities (subject to their practical effectiveness) will fundamentally expand the ability of regions to finance relevant research and development, stimulate innovation, create conditions for self-realization and talent development in the region.

Recognizing the importance of the presented report for developing the discussion on mechanisms for launching inclusive economic growth based on new technologies, science and education in the Russian regions, we emphasize that the strategic goal of funds for supporting scientific, scientific, technical and innovative activities should not just be to accumulate budgetary and extra-budgetary funds for R & D, but to create an innovation ecosystem that provides attract talented, innovation-oriented people, generate a flow of technological and creative projects, and support innovation throughout the entire life cycle-from idea creation to market entry.

The report of the Vologda Scientific Center of the Russian Academy of Sciences is available at the link Formation of funds to support scientific, scientific-technical and innovative activities in the regions