Tools to Stimulate the Innovation Sphere of the Kamchatka Territory to Sustainable Development

Abstract

The shift to sustainable development on the global, national and regional level is still an acute objective of our time. Modernization of physical capital as a key aspect of this transformation is directly connected with innovation activity. The article analyzes the interconnection between basic indicators of physical capital and innovation activity in the Kamchatka territory. With the help of one- and multi-factor functions of influencing the innovation sphere the author identified availability or absence of dependence of innovation activity on factors of physical capital amount, investment volume and wound up financial result. The absence of noticeable link between the investment volume and innovation activity in the region was revealed, which shows the necessity to elaborate and apply extra measures aimed at physical capital modernization. The author put forward a number of tools to stimulate innovation activity in the region, among them organizational and economic, academic and methodological, information and analytical, marketing and customer’s and legal ones. It was shown that shaping the regional system ‘science-educationinnovation’ for the Kamchatka territory could give an opportunity to stimulate and support innovation activity in the region. The obtained results can be used for drawing up documents of strategic and program-targeted character aiming at building an innovation cluster in the region.

Keywords

• physical capital
• investment
• innovation activity
• factors influencing innovation stimulation tools
• system ‘science – education – innovation’
• sustainable development of the region