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Currently, innovation activity in Russia remains low. At the present stage of development in our country, an adequate and effective holistic system that ensures the smooth functioning of the innovation process has been created. After the collapse of the Soviet Union, apologists for a market economy, unfortunately, were unable to create the necessary institutional conditions that would allow the formation of a holistic model of the innovation process at the micro and macro levels. The evidence of this is the sharp reduction in the number of scientific organizations and experimental design bureaus, the lack of demand for trained highly qualified personnel (engineering, technical), which, in turn, has a serious impact on Russia’s innovative and technological lag behind developed countries. The ability and potential of creating and implementing technological innovations depend on the efficiency of the functioning of financing mechanisms and the state of investment sources that create a favorable economic environment for innovation activity. The paper analyzes and evaluates the structure of financing sources of technological innovations. A comparative analysis of research and development funding in developed countries and Russia is conducted. Based on the analysis, the authors identified shortcomings and assessed the effectiveness of existing mechanisms and sources of financing innovation. |
