Innovation Commercialization in Russia and Ways of Overcoming it at the Current Stage of Economy Development

Abstract

During the last decade the role of innovation in the development of Russian and overseas economy has been rising. Innovation growth takes place in all spheres of global economy, including Russia. Sustainable development of economic systems depends today on introduction of intellectual activity results in production therefore a demand in innovation commercialization arises. The article identifies several problems of innovation commercialization that came into being in Russia lately, which were studied in academic literature. The author puts forward his own interpretation of the ideas of innovation platform and innovation strategy, provides classification of key forms o the innovation process and gives examples of countries, which conduct commercialization of intellectual activity results successfully. He systematizes the material identifying approaches to commercialization of research results in global practice and offers practical recommendations on managing the process. Conclusions were made about the importance of innovation commercialization on micro- and macro-levels of economy and about the impact of state policy on shaping the model of research result commercialization in Russia. The author shows the future prospects of managing the process of innovation commercialization and underlines their positive influence on the economic development of the country.

Keywords

• innovation
• innovation platform
• innovation strategy
• innovation commercialization
• intellectual activity results
• economic system