They do not belong to the main elements of the innovation infrastructure. The role of innovative infrastructure in the innovative development of the region

Innovation infrastructure

Innovative infrastructure is a complex of interconnected structures that serve and ensure the implementation of innovative activities.
In the Russian Federation, the innovation infrastructure consists of: innovation and technology centers, technology incubators, technology parks, educational and business centers, etc.

Finam Financial Dictionary.

See what "Innovative infrastructure" is in other dictionaries:

Innovation infrastructure- a set of organizations that contribute to the implementation of innovative projects, including the provision of managerial, logistical, financial, information, personnel, consulting and organizational services ... Source: Federal ... ... Official terminology

innovation infrastructure- 3.1.21 innovation infrastructure: The structure (device) of an organization (institution) that contributes to the implementation of innovative activities, that is, a complex of organizations (institutions) that are subordinate and auxiliary in nature, serving ...

Infrastructure- (Infrastructure) Infrastructure is a complex of interconnected service structures or objects Transport, social, road, market, innovative infrastructures, their development and elements Contents >>>>>>>> … Encyclopedia of the investor

This term has other meanings, see Infrastructure. The infrastructure of the economy (Latin infra below, under + structura structure, location) is a set of industries and activities that serve production and the economy as a whole, ... ... Wikipedia

Innovation innovation in the field of engineering, technology, labor organization or management, based on the use of scientific achievements and best practices, providing a qualitative increase in efficiency production system or quality ... ... Wikipedia

Infrastructure is innovative- a set of organizations that serve and ensure the innovative activity of enterprises (organizations) and individual innovators. The innovation infrastructure has various complex forms, the most common of which ... ... Dictionary"Innovative activity". Terms of innovation management and related fields

- (knowledge economy, intellectual economy) a type of economy based on the flow of innovation, on constant technological improvement, on the production and export of high-tech products with very high added value and themselves ... ... Wikipedia

A complex of interrelated structures that serve and ensure the implementation of innovative investment processes. See also: Infrastructure Innovative activity Financial dictionary Finam ... Financial vocabulary

GOST R 54147-2010: Strategic and innovation management. Terms and Definitions- Terminology GOST R 54147 2010: Strategic and innovation management. Terms and definitions original document: 3.3.17 assets (asset): Anything that is of value to the organization. Term definitions from various documents: assets 3.2.62 analysis ... ... Dictionary-reference book of terms of normative and technical documentation

This term has other meanings, see Institute of Genetics and Cytology. Institute of Genetics and Cytology of the National Academy of Sciences of Belarus (IGiTs NASB) International name Institute of Genetics and Cytology of the National Academy of ... ... Wikipedia

Books

• Innovation economy. Textbook, Yakushev A., Dubynina A.. The manual has been prepared in accordance with the requirements of the Federal Educational Standard of Higher Education. The basic concepts of the innovation economy, the content and structure…
• Innovative market infrastructure. Textbook for applied baccalaureate, L. Spitsyna. The series "Universities of Russia" will allow higher educational institutions of our country to use textbooks and teaching aids in various disciplines in the educational process, prepared ...

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Ministry of Education and Science of the Russian Federation

Federal State Budgetary Educational Institution

higher professional education

"Kazan National Research Technological University" (FGBOU VPO "KNRTU")

department social work, Pedagogy and Psychology

ControlWork

on the topic " Innovation activity infrastructure"

I've done the work

1st year student

group 315-M(Z)24

Karimova G.F.

Checked by Abranina T.S.

Kazan 2016

1. The concept of innovation infrastructure

1.1 General scheme of innovation infrastructure

1.2 Elements of innovation infrastructure and their characteristics

1.3 Key elements of the innovation infrastructure

Conclusion

List of used sources and literature

1. The concept of innovation infrastructure

innovative infrastructure technology park

The infrastructure of innovation activity is a set of subjects of innovation activity that provide the conditions necessary for the implementation of innovation activity and the functioning of innovation processes.

At present, there is a fairly extensive network of organizations that promote the development of innovative activities (Table 1).

1.1 General scheme of innovation infrastructure

Table 1

It should be noted that the objects of innovation infrastructure (AI) can solve only a part of the problems, and the successful development of innovative activity cannot be made solely dependent on the presence or number of relevant infrastructure objects.

In order for an innovation system to function successfully, it must also have a favorable regulatory framework.

1.2 Elements of innovation infrastructure and their characteristics

Let us characterize the role of individual elements of the infrastructure and the problems of their development.

1. The production and technological infrastructure is designed to create conditions for the access of small enterprises to production resources. It includes technology parks, innovation and technology centers, technology clusters, etc.

Technopark (TP) leases its space to innovative enterprises for best conditions than just a commercial lease. In addition to rent, a set of general services (fax, telephone, Internet access, copying, secretarial, accounting and legal services etc.). The experience of TP work shows the correctness of the strategy and its high efficiency. In addition, here through the exchange of information and experience between various enterprises new projects, new solutions, sales schemes, etc. are born. It is also important that there are no conditions for shadow activities in the TP.

The organization of these structures is realized through the arrangement of the territory, equipped with the necessary communications and industrial infrastructure, where small enterprises (SE) could rent for a start, and, if financially possible, buy out production areas. Another option is the organization of TP on the basis of empty or idle enterprises, which are quite numerous in almost all regions. Such projects are already beginning to be implemented in a number of regions.

AT recent times the organization of clusters has become fashionable - a set of enterprises located in one limited area (in a large enterprise or within the same city) and more or less closely connected by industrial ties.

Centers for collective use of production equipment. It is obvious that providing all small enterprises with modern production equipment is impossible due to the fact that relatively small volumes of their production do not allow efficient use of modern productive equipment. With the cost of a modern machine at several hundred thousand dollars, only a fairly large enterprise can afford its purchase and efficient operation in the production of its own products. Thus, a huge number of small and medium-sized enterprises are cut off from the use of new technologies in production for this reason. The way out of this situation is possible through the collective use of equipment in service centers.

The organization of centers for collective use makes it economically feasible to provide a large number of enterprises with access to modern technologies and gives many positive side effects that contribute to the transfer of the Russian economy to an innovative development path.

2. Consulting infrastructure is a set of consulting organizations. Innovative activity has many specific features, the knowledge of which is acquired only with practical experience. The creation of small innovative enterprises (SIEs) by "unprofessional" managers leads to the fact that the survival rate of such enterprises is usually low. Therefore, providing access to professional advice (financial, economic, marketing, as well as on foreign economic activity) seems to be one of the means to increase the efficiency of the use of funds allocated for innovative development.

The main problems that began to manifest themselves with the beginning of the development of the CTT network are the lack of qualified personnel for their recruitment. If the problem of personnel is solved, the CTT can become one of the important structural elements that stimulate the development of innovative activity in the regions.

3. Training infrastructure. If we consider the problems of personnel training in more detail, we should note a whole range of problems in this area. As noted above, there are growing problems with personnel providing research and development, and there is an acute problem of a shortage of medium technical personnel and skilled workers. The problem of enterprises producing innovative products has recently been the aging of personnel who are carriers of key technologies. Without the entry of young workers, the technologies used may be partly lost.

With the development of the personnel training system, it is necessary to ensure a balanced training of personnel in all areas that ensure innovative activity. Nevertheless, it should be noted that at present most enterprises (both large and small) do not have specialists who can competently ensure the promotion of new products to the market. The problem can be solved only by organizing purposeful work on training such personnel with a planning horizon of 5-10 years (time for basic training of personnel and the acquisition of practical work skills by them).

In this regard, the role of the consulting system should be noted once again.

Since personnel training is a rather lengthy and inertial process, and the time of irreversible changes at many enterprises focused on the production of science-intensive products may turn out to be less than the time for solving the personnel problem, it is necessary to provide for the creation and development of a consulting system for industrial enterprises in the field of innovation and promotion of science-intensive products to the markets. This system does not repeat the CTT system, although it should work closely with it, but provides one-time consulting on certain issues that arise for enterprises. Perhaps, it is expedient to build this system as a system of express training in the basics of innovative approaches.

4. Information infrastructure is associated with providing access to information. In this area, there is a fairly extensive network of organizations, including a regional system of state centers of scientific and technical information, structures that support small businesses, and regional information networks. A large amount of information on innovation issues is available on the Internet.

The current system effectively solves a number of problems. So, Technical information is currently available in large volumes in almost all areas of science and technology. Access to patent information is not particularly problematic. The main information that can influence the solution of problems of innovative development and for which there is a significant deficit is related to information about the markets.

Another group of issues of information support for innovation activities is related to bringing information about new developments to potential users, organizing consultations on their use.

Partially, this problem can be solved thanks to the creation of a network of information and analytical centers in priority areas of development of science and technology, as well as innovation topics. Work is needed to organize the collection, analysis and systematization of information on completed R&D by region and Russia as a whole. Significant efforts should be made to bring information about completed R&D to interested consumers.

5. The financial infrastructure includes structures that provide access for innovative enterprises (both large and small) to financial resources. Currently, there are quite a few financial instruments, but statistical studies show that the main source of financing for the development of innovative industrial enterprises is their own funds. Bank credit is still too expensive and short for the development of innovative activities.

State budget resources are available mainly to large enterprises.

Venture capital investment, which has been discussed a lot lately, is still exotic for Russia. It should be noted that recently in many regions the creation of regional venture funds has been going on. In most of these cases, the word "venture" in the title reflects only fashion trend. In essence, most of these structures are innovation support funds aimed at financing R&D and not involving the creation of new enterprises.

Recently, guarantee structures and funds have been created in a number of regions, which should solve the problems of securing loans for small enterprises in the banking system. Leasing schemes for the purchase of high-tech equipment by small businesses are also successfully developing.

Another source of funding for innovation is the participation of enterprises in international projects. The expansion of financial inflows from this source is possible with the development of a network of technology transfer centers with the participation of foreign partners.

6. Sales infrastructure. Sales is one of the key factors in the competitiveness of a modern enterprise. Due to objective reasons related to the history of the development of Russian enterprises, most of them do not have the personnel and skills in the field of marketing innovative products, as a result of which there is no active work on the promotion of innovative products to the markets by its manufacturers.

This problem is even more urgent when entering the world markets.

In foreign markets, even initial information about the products of Russian innovative enterprises is practically absent, therefore, without serious work in this direction, one cannot hope for a radical change in the situation with the entry of these enterprises into the world markets of high technology products and an increase in their share from 0.3-0.5% ( at present) to comparable with those of developed countries.

Classical methods of promotion (participation in exhibitions, sales via the Internet), typical for traditional products, do not work well for innovative products, characteristics and consumer properties at the first stages of promotion are not familiar to potential buyers. The huge shortage of qualified personnel for this activity allows us to consider the provision of this resource as a key, if not the main factor in accelerating the innovative development of the economy.

The solution to the problem can be sought in the creation of structures for collective entry into the markets (by analogy with the Soviet foreign trade organizations that served the export of industries). To complete such structures, it is possible to recruit a sufficient number of qualified specialists who will provide not one, but several enterprises at once, united according to a regional or sectoral principle.

Naturally, at the same time, it is necessary to develop other methods of promotion that currently exist: through exhibition activities, professional associations of enterprises, intermediary firms and a system of consulting and marketing firms.

1.3 Keyinnov elementsationinfrastructure

Key elements of innovation infrastructure: technopark structures, information and technological systems, science parks, technology and research parks; Innovation, innovation-technological and business-innovation centers; technology transfer centres, business incubators and technology incubators; virtual incubators; technopolises, etc. Information technology centers: databases of scientific and technological information, technical-legal and technical-economic information, other databases.

Groups of technopark structures: Incubators, technoparks, technopolises.

Incubators Incubators are multifunctional complexes that provide a variety of services to new innovative companies that are at the stage of emergence and formation. "... A business incubator is an organization that solves problems, limited to the problems of supporting small, newly created enterprises and start-up entrepreneurs who want, but do not have the opportunity to start their own business, related to helping them create viable commercially profitable products and efficient production based on their ideas...

Distinctive features business incubators exclusively support newly created and early-stage organizations; incubators support not only high-tech organizations, but also small businesses of the widest range; incubators do not have land, and, consequently, programs to attract branches and representative offices of large corporations to it, lease land for the construction of offices and other premises by client organizations themselves; the policy of constant renewal of clients is observed in them more strictly than in technoparks.

Technoparks A science and technology park is an independent organizational structure created in the field of science and scientific services in order to support small scientific and technical businesses and create an environment for mastering the production and marketing of high-tech products. “Technopark is a property complex created to carry out activities in the field of high technologies, consisting of office buildings and industrial premises, engineering, transport, residential and social infrastructure facilities with a total area of ​​at least 5,000 sq. The technopark residents are small and medium-sized enterprises, scientific organizations, design bureaus, educational institutions, innovation infrastructure organizations, manufacturing enterprises or their subdivisions, research centers, business incubators and other infrastructure facilities to support small and medium-sized businesses. ..”

Classification of technoparks A research park carries out a non-profitable, as a rule, fundamental-applied scientific transfer, which operates from the stage of completion of fundamental research. the scientific and technological park carries out a profitable or non-profitable applied scientific and experimental transfer. the technology park, as a rule, carries out a profitable experimental and production transfer, operates mainly from the stage of development and experimental work to the organization of mass production of new products (development new technology), which has an almost guaranteed demand in the market. the industrial and technological park carries out profitable activities related to the provision of temporary use of space, premises and equipment for organizing the production of new products using new technology.

Technopolis is an integral research and production structure created on the basis of a separate city, in the economy of which technoparks and incubators play a significant role. New products and technologies developed in research centers are used to solve the entire range of social and economic problems of the city.

Conclusion

Innovation process, i.e. the process of creation, distribution and consumption of scientific, technical, organizational, managerial and other innovations by subjects of the national economy is the main content of the process of modernization of the economy and society as a whole. This is also true for such a concept as scientific and technological progress (STP), which is widely used to describe differences in the economic development of certain countries. Moreover, the scale of the use of the achievements of scientific and technical progress once became the main criterion for dividing countries into industrially developed (industrial) and the rest, i.e. developing.

List of used sources and literature

1. Ammosov Yu. Money for good man// Expert. 2004. No. 4;

2. Fatkhutdinov R.A. Innovation management: Textbook St. Petersburg: Peter, 2006;

3. Khotyasheva O.M. Innovation management: Uch. allowance - St. Petersburg: PETER, 2007;

4. Medynsky V.T. Innovation management: textbook - M.: INFRA-M, 2005.

5. Innovation management. Uch. settlement / Ed. Ogolevoy L.N.: M., INFRA-M, 2007

6. Mukhamedyarov A.M. Innovation management: Uch. allowance -M., Infra-M, 2008

7. Evdokimova L.O., Slesareva L.S. Innovation management, textbook, St. Petersburg, 2008

8. Bortnik I. 10 years of development of small innovative business in Russia // Innovations. 2006. No. 1.S. 5.

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MINISTRY OF EDUCATION OF THE REPUBLIC OF BELARUS

EE "BELARUSIAN STATE ECONOMIC UNIVERSITY"

BOBRUYSK BRANCH

Department of E&UP

TEST

In the discipline "Economics of innovation"

5th year student EUPZ-021

Sudko M.N.

no. book. 20662

Address: Krylova 40A-43

Bobruisk 2008

1. Innovations, their essence, classification

2. Innovation infrastructure: purpose, content, elements

Based on the data in Table 2, evaluate the efficiency of the functioning of enterprises as part of the technological chain and their functioning as separate enterprises. To conclude.

table 2

1. Innovations, their essence, classification

The term "innovation" was introduced into circulation at the beginning of our century by Joseph Schumpeter, an American economist known for his work in the field of the history of economic doctrines. He viewed innovation as an intermediary between an invention and its introduction into the economy.

Currently, there is no generally accepted definition of innovation in the scientific literature. In the most abstract form the definition of innovation was given by the English professor V.R. Spence. “Innovation is something completely new in relation to specific situation, which can be used when we begin to realize it.

Although abstract, this definition includes three important points:

1. Innovation is a new phenomenon for people who have something to do with this phenomenon;

2. Innovation - a new phenomenon realized by us;

3. Innovation is a new phenomenon that can be used.

Thus, innovations are improvements that provide cost savings, create conditions for increasing profits or reducing prices, and creating additional consumer demand.

Classification of innovations:

All types of innovations can be conditionally divided into the following three groups:

Product innovations:

in the product;

In services.

Social innovations:

In markets and buyer behavior;

in the behavior of employees;

In the development of the personality of employees.

Managerial innovations:

In technology management;

In the organization of production;

In organizational management structures;

In the functions and methods of management;

in control engineering.

2. Innovation infrastructure: purpose, content, elements

The study of the content of innovation processes and features of venture activities allows us to conclude that it is necessary to form special organizational and economic mechanisms to support small venture, innovative and technology-oriented firms. A situation has arisen in which an increase in funds allocated for scientific and technological activities does not lead to an adequate increase in the economic potential and efficiency of management. The problem can be solved by creating an infrastructure that supports innovation processes, venture activities and creates favorable conditions for the development of small forms in the scientific and technical field.

The use of the new concept of "innovative infrastructure" is due to a number of reasons. First, only relatively recently has technological development reached a level at which it has become possible to effectively form an innovative infrastructure. Secondly, there is an economic need for technological transfer, commercialization of the results of scientific and technical developments, creation of other mechanisms for bringing high technologies and scientific technical products to a specific consumer. Thirdly, the level of previous theoretical developments made it possible to propose new methodological approaches to solving the tasks.

The innovation infrastructure plays a special role in the distribution of risk among the participants in the innovation process.

In order to reduce risk, it is advisable to use risk analysis methods in relation not to individual projects, but to their totality, formed according to certain criteria, i.e., a portfolio of projects. Evaluation of a portfolio of projects allows you to reduce the degree of uncertainty. Such an assessment makes it possible to reduce not only the technical uncertainty, but also the commercial one. High-tech projects with significant costs for research and development are subject to special assessment. This makes it necessary to carefully look for ways to reduce development costs and production and commercialization costs, as well as to carefully justify the minimum possible volumes of high-tech products.

As we move through the phases of the innovation cycle and refine the data obtained, it is necessary to re-evaluate projects, their availability of available resources, make decisions to stop the development of individual projects and adjust them in accordance with market requirements. Thus, in the process of evaluating projects, as you move through the phases of the innovation cycle, you can reduce the degree of technical and commercial risk, when assessing at "control points", clarifying information and changes taking place in the market as a whole and especially in the segment that the project focuses on.

The formation of a portfolio containing projects of different volume, phases of the innovation cycle, and degree of novelty also makes it possible to reduce the risk. At the same time, a portfolio consisting of many small projects is more stable than a portfolio consisting of a large number large projects for the same amount, and even more so than a single project. With such a portfolio formation, the possibility of including venture projects increases and the reasonable level of the portfolio as a whole does not change.

Therefore, risk reduction is possible by improving the quality and skill level of management and marketing specialists, whose responsibilities include project support and product promotion to the market, the formation of a portfolio of projects, determining the order of their implementation, adjusting the decision at "control points" in conditions of uncertainty and risk .

It is expedient to provide these directions with the help of creation of a special infrastructure. At the same time, the creation of an innovative infrastructure reduces the degree of risk of investments in innovative activities in the region as a whole, attracts additional investments, forms new models of technological transfer and commercialization of scientific and technical products in the national economy.

It should be noted that the creation of an innovative infrastructure depends on the level of technological and economic development of the national economy. In countries with a developed production infrastructure, a process of softization is observed, characterized by an increase in the role of intangible, intangible factors of production, and the informatization of society. Softization is intertwined with serving - the outstripping development of the service sector. Thus, real opportunities are being formed to create a network of consulting, engineering, service, information services that contribute to the support of innovative processes.

In the conditions of a transformational society, the innovation infrastructure should contribute to the entry of science into the market environment, the development of entrepreneurship in the scientific and technical sphere, therefore its formation is largely determined by the state of the market infrastructure. In general, the innovation infrastructure is an organizational, material, financial, credit, information base for creating conditions conducive to the effective accumulation and distribution of funds and the provision of services for the development of innovative technology transfer, commercialization of scientific and technical products in conditions of increased risk.

The tasks of the innovation infrastructure include:

Selection of projects based on an objective examination system;

Creation of favorable starting conditions for the development of small innovative technology-oriented firms;

support of venture projects;

System of participation in the development of promising scientific and technical areas;

Support for interaction mechanisms with major centers(including the type of franchise system); .

Formation of the material and technical base for the creation and development of small innovative firms, including leasing of high-tech equipment;

Accumulation of financial resources, creation of innovative, investment, venture funds, innovative banks, etc.;

Creation of information networks that ensure the development of small firms, the possibility of their connection to international networks;

Obtaining highly qualified consulting, engineering, auditing, advertising, expert services in order to create competitive science-intensive products, high technologies and promote them to the market, including the world market;

Development of insurance for innovative projects, state insurance of foreign investments invested in the development of innovative activities;

Assistance in obtaining information about foreign partners, concluding contracts, including international ones, filing applications with international funds and organizations, participation in international programs;

Assistance in carrying out the conversion;

Teaching entrepreneurship in the scientific and technical field.

Based on these provisions, an innovative infrastructure is formed, consisting of the following interconnected elements:

1. Organizational structures (administration of small innovative business or committee on science and technology, unions and associations of entrepreneurs, etc.) that provide support for small scientific and innovative firms. Their main functions are to develop and implement programs to support and develop innovative activities, relevant legislative acts, determine its place in the overall development strategy; substantiation of the need for material and financial resources, public funds necessary for the implementation of the tasks set; creation of a mechanism for the interaction of small innovative firms with large organizations, participation in republican programs, indirect impact on innovation processes (preferential taxation, financing, lending, creation of special funds, etc.).

Organizational, legal and economic support of the innovative activity of the enterprise at various levels and in various forms provides innovative infrastructure.

Under innovation infrastructure understand the totality of interrelated and interacting organizations, institutions, their associations, associations of any form of ownership that provide services to ensure innovation (financial, consulting, marketing, information and communication, legal, educational, etc.).

The innovation infrastructure unites organizations of various types: consulting, marketing, information and communication, legal, educational, training, etc. firms, investors, intermediaries, scientific and state institutions whose activities cover the entire innovation cycle - from the generation of scientific and technical ideas to the implementation of innovation.

The purpose of creating the infrastructure is to comprehensively ensure the innovative activities of business entities, preserve and develop the scientific and technical potential of the country in the interests of society, including overcoming the decline in production, its restructuring, changing the product range, creating new products, new production processes.

The implementation of the relevant functions involves the formation of a complex of interrelated elements:

o information support system, which gives access to databases and data banks for all those interested, regardless of ownership;

o examination (including state) of innovative programs, projects, proposals, applications;

o financial and economic support of innovative activities based on the use of various sources of funds: resources of enterprises and organizations, investment funds, foreign investments, etc.;

o certification systems for their products, related services in the field of metrology, standardization, quality control;

o systems for promoting innovations in regional, interregional, foreign markets, including exhibition, advertising, marketing, patent-licensing activities, intellectual property protection;

o training of personnel for innovative activities in a market economy.

Organizationally, the objects of the innovation infrastructure can be represented as:

o financial and credit institutions;

o zones of intensive scientific and technological development (technopolises) innovation parks;

o innovation centers;

o incubators (innovative, technological, innovative business);

o consulting firms, companies, etc.

The experience of developed countries shows that in the conditions of global competition in the world market, the winner is the one who has a developed infrastructure for the implementation of innovations, who owns the most effective mechanism for innovation and uses the entire range of technologies for creating and implementing innovations.

For example. Japan's limited natural and land resources, besides, after the Second World War, the limited financial resources, remoteness from the markets put Japan in rather difficult starting conditions compared to other countries. The successful innovation policy of the Japanese government helped the industry to effectively use this factor and faster than other countries that possessed significant advantages, achieve a high level of competitiveness, and change the priority areas of development.

In the second half of the 1980s and in the 1990s, the stage of formation of new functions of universities in national innovative systems. Various technology transfer centers have been created and are being developed - innovation centers, technology parks, incubators of new technologies that contribute to the selection of promising scientific developments and the dissemination of new technologies in favor of small and medium-sized businesses. At the same level, other forms of interaction between scientists and entrepreneurs, such as venture financing mechanisms, have been tested and in many cases proved successful.

A significant part of these centers was regional in nature, that is, they were created with active material and organizational assistance from the local authorities or on its initiative. Local authorities allocated land, leased municipal buildings on preferential terms to support small science-intensive businesses, and create a favorable innovation environment. As a result, science parks and incubators, in terms of scope, the creation of which the United States and Western Europe are not inferior to each other, perhaps, they emphasize the universality of this form of organization of innovative activity. their creation solved many problems of science and technology policy in the US and other countries, giving an incentive to new initiative people, scientists and entrepreneurs and raising the overall level of cooperation between various sectors of national innovation systems.

Educational institutions deserve special attention in the formation of an effective system of innovation infrastructure. For example, universities that have taken the lead in small science-intensive businesses or have become leading employees of such companies have a special role to play in today's science and technology entrepreneurship. A university, especially an experienced one, is a place where all innovators, inventors, and successful managers of a science-intensive business, without exception, either studied or conducted research.

A new trend in the same direction appeared in the 1990s - the strengthening of the commercial nature of the activities of scientists and the structures they create. If earlier informational, advisory, educational services, provided by professors mainly on a contract basis, now more and more often scientists personally participate in the creation of companies, in direct investments in business (we can’t even talk about portfolio investments, since even many students own shares of various companies in the United States). A professor who has created his own business and attracts students and graduate students to work in a science-intensive company is a very common phenomenon.

In order to support the development of small business entrepreneurial structures that provide a high favorableness to innovation, in many countries such a form as a business incubator has become widespread.

A business incubator is an organizational structure, the purpose of which is to create favorable conditions for the start-up development of small innovative enterprises by providing them with a certain range of services and resources.

Numerous innovative services are provided to such firms in the centers-incubators, which, in particular, include:

o rent of premises;

o rental of scientific and technological equipment for a certain period;

o advice on economic and legal issues;

o financial services;

o expertise of innovative projects (scientific and technical, environmental, commercial)

Practice shows that in a competitive environment, significantly more innovative small businesses survive within incubators than outside them. The activities of incubators are quite effective. their development does not require budget allocations (perhaps with the exception of minimal funds in the form of start-up capital). The incubator, as a rule, provides itself on the principles of self-financing. He is interested in the fact that small innovative structures become profitable as soon as possible (the incubator is guaranteed a significant share in their future profits).

The income of the incubator consists of three main sources:

1) rent received from clients for renting premises;

2) sale of various services;

3) participation in the profits of those firms in which the incubator has invested its funds in one form or another.

The duration of a new firm's stay in the incubator is limited to three years. It is believed that during this period it will be enough for the company to become able to independently solve economic problems.

Among the well-known American companies that own special incubator firms for growing subsidiaries of small venture capital firms are General Electric and IBM. their activities are organized in such a way that the parent company finances a significant amount of expenses associated with the formation of an innovative company (80%), which makes it possible for it to subsequently completely buy out a small venture company and organize its own experimental, design or production divisions on its basis. Business incubators almost always have legal and economic independence. Business incubators are successfully operating in Germany, Poland, Slovakia, and the Czech Republic.

The experience of foreign countries shows that it is advisable to form three main types of incubators:

1. Non-commercial incubators are those that operate on the basis of attracted funds from local authorities that are interested in creating jobs and economic development of the region. Incubators of this type receive fees from tenants that are significantly lower (up to 50%) than the national average. This is enough to support the main staff working in the incubator.

2. Profitable hatcheries that do not provide benefits by renting out their property. These are predominantly private business incubators, the number of which is growing. They offer tenants a wide range of different services, for the use of which they receive an appropriate fee.

3. Incubators that operate at academic institutions, higher educational institutions. They act as a link that unites scientific institutions and private business in the development of innovations; provide effective support to enterprises that intend to master high-tech products; consult scientists, conduct research and laboratory facilities, computer equipment, provide an opportunity to use the library, and the like. Rent however, it is quite high.

The functions of business incubators are constantly expanding. The development of business incubators has begun in many countries former USSR. Business incubators have also been created in Ukraine at some higher educational institutions and in the regions (with the support of foreign government programs). Thus, at the initiative of the city state administration in support of innovation activities, the Kyiv Innovation Business Incubator was created in Kiev, which includes the business incubator itself as a management body, coordinating bodies to ensure cooperation with local authorities; independent service centers for incubated firms; the firms themselves.

The incubated firms are engaged in innovative design and enjoy all the benefits provided by the business incubator (preferential rent of premises, receiving services). Geographically, they are located in the premises of the business incubator, but the duration of their stay in the business incubator is limited to two to three years.

Innovative business incubators operate at the technical universities of Lviv, Dnepropetrovsk and Kyiv. In 1996, the Ukrainian-Canadian business center was created in Ivano-Frankivsk, which performs the main functions of a business incubator.

Scientific and advisory activities have received significant development over the past ten years. It is comprehensive. These are consulting firms that provide assistance on any issues of organization and management, from the problem of long-term forecasting, the development of innovative strategies, organizational structures, and ending with the problems of staff release.

Consulting firms as an organizational form of interaction between science and practice emerged in the 1970s. Since then, the demand for the services of consulting firms has been constantly growing.

Consultation is a form of service to a firm (organization) or a person in order to analyze situations and solve them and related problems. Consultations are based not only on knowledge and experience, but above all on the conduct of specific and specialized studies.

Technologically, this work covers the following stages: having received an order, specialists conduct a general acquaintance with the company or with the problem, evaluate its parameters, choose the form of advisory work, conclude an agreement (contract) for its implementation, diagnose the management of the company's innovative activities, develop recommendations, monitor their implementation.

The consulting firm, in cooperation with the customer, forms an experimental group, taking into account the nature of the problems being studied, the specifics of the research, and the amount of work. Often consultants act as experts or arbitrators. There are external and internal consultants. Often there are such needs for advisory activities that it is not rational to solve by attracting external consultants. This happens in conditions of a small amount of research work, fears about the possibility of disclosing information about the state of the firm, innovation or distrust of the consulting firm, etc. In such cases, the services of internal consultants are used, the training of which is often organized by firms.

Internal consultants can be highly qualified specialists who have certain experience and certain personal qualities, which allows them to competently diagnose the situation, as well as develop practical valuable advice to solve the problem. The main factors for the success of their activities are objectivity, professionalism, knowledge, independence and authority. Large consulting organizations around the world - for example, "McKinsey", "Arthur D. Little", specializing in providing a wide range of services, they are called "think tanks".

Consultative organizations carry out consultations in the following areas of management activities:

o strategic development of the client company;

o development of alternative solutions to managerial innovation problems;

o substantiation of the optimal option for the development of the company in one direction or another;

o formation of effective organizational structures;

o corporate planning;

o organization of market research;

o engineering and design work;

o technology of research of control systems;

o conducting experiments, sociometric studies, testing, etc.

The types of advisory and research activities can be varied in terms of the degree and form of intervention in management processes, ways to find the optimal ratio of fundamental and applied research, on the development of new equipment and technology.

The solution of the problems of the transition period is largely determined by the innovation sphere, which initiates the progressive development of scientific and technological progress and actively participates in the formation of the country's national wealth.

This is a special area of ​​the social division of labor, which ensures the realization of the product of the scientific sphere in material production, and at the same time a special production phase. social production. The conditions for the functioning of the innovation sphere are intellectual property and ownership of the product of innovation activity. In the innovation sphere, a separate specialized material and technical base is formed, special techniques and methods are accumulated that correspond to the forms of organization and management of innovation activities.

Innovation sphere - a set of sectors of the national economy, types of social activities that are not directly involved in the creation of material wealth, but produce a special kind of use value, often without a material substance, but necessary for the functioning and development of material production.

The functional purpose of the innovation sphere in the system of social division of labor is associated with the performance of its functions of creating

Denmark and meeting the needs for innovations both in material production and in society as a whole.

The main part of consumer value products of the innovation sphere has a commodity form, its movement is carried out through exchange.

The innovation sphere covers the objects of research and development, marketing, business structures, whose activities are aimed at meeting the needs of material production in innovation. At the same time, the innovation sphere does not include the bodies of education, management, financing, insurance, and accounting.

The innovation sphere participates in the creation and redistribution of national income in the national economy and ensures the transfer of property and the scientific product from the sphere of science to the sphere of material production.

In the innovation sphere, disparate processes are combined into a single innovation process that creates innovations that meet the demand of the production sector and provides conditions for their development by the enterprise and consumers.

Generally economic relations innovation sphere are derived from the relations of material production, however, they have their own specifics.

In contrast to the scientific sphere, exchange operations prevail in the innovation sphere, property rights are clearly indicated when they are carried out between the entities engaged in innovative activities and entities external to this sphere. Management in the innovation sphere is based on the criterion of economic efficiency, and the transfer of an innovative product to production area involves the implementation of marketing research.

The development of the innovation sphere makes it possible to reduce the time for the development of scientific products by the production, to return the advanced capital more quickly and to redirect it to expanded reproduction.

The innovation sphere has a special form financial activities, venture lending and marketing focus on promoting scientific products to the market.

So, the innovation sphere is part of the system of production relations arising from the production, distribution, exchange and consumption of innovations and based on the integration of participation in innovation activities of business structures and the state in a market economy. The innovation sphere appears as a special subsystem of social reproduction, the movement of capital invested in a specific form of its concentration and functioning (risk, venture), a special institutional unity, including the totality state regulation and structural elements. Currently, an urgent problem is the creation of conditions for its reproduction, including credit and financial, which involves the development of a certain sector of the economy, classified as "infrastructure".

Infrastructure is an independent sector of the economy. A feature of infrastructure industries is that they do not produce material products, but services. The transition to a market economy in Russia is associated with the emergence of a large number of isolated producers, so the task of the infrastructure elements is to create and maintain stable economic ties between economic entities. Consequently, the main function of the infrastructure is the formation of external conditions for managing both economic entities and the national economy as a whole.

In connection with the development of market relations in Russia, the task of forming a market infrastructure adequate to the new economic mechanism is being solved, which, being the most important component of the economic mechanism itself, would contribute to the free exchange of economic resources and the implementation of the function of self-regulation and self-adjustment of the national economy in connection with market fluctuations.

In the domestic economic literature, the concept of "market infrastructure" characterizes the fact that in Russian economy, which is a mixed-type economic system, both non-market organizational structures and economic forms functioning in accordance with the administrative-bureaucratic principles of management and related to "non-market infrastructure" will exist for a long time.

Since in foreign countries the market is understood as the economic system as a whole, the concept of "infrastructure" is used in Western economic literature.

Under the infrastructure of innovation activity, or innovation infrastructure, we mean a complex of organizational and economic institutions that directly ensure the conditions for the existence of innovative processes by business entities (including specialized innovative organizations) based on the principles of economic efficiency of both the national economy as a whole and its economic entities in conditions of market conditions. market fluctuations. All organizations related to the innovation infrastructure are in a certain technological and economic connection, expressing the unity of the stages of innovation activity. The organizations that collectively form its infrastructure differ by sectors, types, territories, including foreign organizations and enterprises. At present, a new structure of organizations in the innovation sphere and an innovation infrastructure are being formed in the Russian Federation, the function of which is to implement the conditions for the reproduction of innovation activity.

Market infrastructure institutions that provide assistance to innovative organizations at the micro level in Russia include investment and innovation funds, banks, business incubators, economic associations, financial groups associated with scientific and technical innovations, etc. Russian support funds function at the macro level. entrepreneurial activity. These funds are, in essence, of a venture nature, they practice a competitive approach to the implementation of projects.

The innovation infrastructure is characterized by the global trend of “serving the economy”, i.e., accelerated development rates compared to the development rates of innovative organizations due to the fact that the innovation infrastructure is turning into the most important resource for innovation processes in the national economy. At the same time, the accelerated development of infrastructure institutions is facilitated by the high multiplier effect of increasing demand for their services, the low sensitivity of the infrastructure to cyclical fluctuations in material production, and the expansion of demand for the services of innovative infrastructure institutions during the period of recovery from the depression.

An efficient innovation infrastructure is the most important factor that ensures the adaptation of the economy to the assimilation of progressive technology and its production, based on a diverse, complex and long-term interaction between the innovation sphere and the market, which largely determines the intensity of innovation processes through the mechanism of competition.

Under the conditions of the administrative-command management system, decisions on the introduction of innovations into production remained under the jurisdiction of administrative bureaucratic bodies and were not related to international parameters of efficiency. The destruction of the monopolized by the state and politicized system of introducing the achievements of scientific and technological progress was exacerbated by problems associated with market reform of the economy and the crisis state of production and social spheres which actually led to curtailment of innovation activity in the country. Thus, since 1991, the share of enterprises developing new products did not exceed 7%, which in turn significantly reduced the demand for scientific and technical innovations and new technologies. At the same time, the intensification of innovation activity is impossible without an innovation market and related infrastructure.

The process of forming an innovative infrastructure in the transition period from one economic system to another began quite spontaneously, without the necessary state regulation. Often individual elements of the innovation infrastructure appeared before the development of innovation activity. For the further development of the innovation infrastructure in Russia, the accelerated and large-scale implementation of innovation processes in the real sector of the economy is of great importance, which in turn is associated with overcoming the economic downturn and the implementation of intensive structural transformations in the national economy.

Due to the fact that both state institutions of the innovation infrastructure and non-state institutions exist in parallel, the legislative and economic mechanism for their interaction and complementarity should be determined. To establish equal conditions for functioning, the instruments of the tax mechanism and financial and credit levers can be used.

The innovation activity infrastructure is subdivided into the following functional areas: transport and communications; informatics and telecommunications; credit and financial sphere; stock market; institute of intermediaries; companies and firms providing services of a special nature.

The credit and financial sphere of the innovation infrastructure has specific features associated with the nature of this activity, which is characterized by a high degree of commercial risk, the need to attract long-term investments, etc.

The main function of banks in the innovation sphere is to finance and lend to the processes of creating and replicating scientific and technical innovations. Banks can lend to all stages of the innovation life cycle. Typically, a loan is issued against the funds available to the applicant, under the guarantees of his superior organization, under the concluded contracts for the purchase of new products produced through the use of the loan. At the same time, the interest rate for a loan for innovative activity is set depending on its effectiveness, payback period, compliance with the priorities of scientific and technological development and the degree of risk of credited activities.

The bank can become a co-owner of the result, I compensate for my costs in the form of profit from the operation of the innovation, and the financing agreement may stipulate a period after which the share of the bank's funds in financing the innovation will be redeemed by the legal entity that received the loan.

Through leasing operations, the bank can become the owner of an innovative enterprise or create a new production. The reconstructed enterprise, owned or co-owned by the bank, can, in turn, be leased, while the lessee will deduct a stipulated amount, which is used to compensate the bank's expenses. The agreement with the tenant may provide for conditions under which the bank may, for a fee, assign all or part of its rights to own the enterprise.

Banks can organize a comprehensive examination of an innovation from the scientific, technical, economic, economic and other sides, attracting highly qualified specialists for this. Typically, the cost of due diligence is one percent of the estimated cost or contract price of the development. In addition, the bank can provide various services to innovative enterprises: information, intermediary, advisory, scientific and technical, advertising, forecasting, opportunistic.

Finally, the bank can become an organizer of joint ventures created on a shareholder basis.

The risky nature of the activities of innovative enterprises prevents the widespread involvement of commercial banks in the process of lending to innovative projects, which is associated not only with the long-term nature of the requested loans, but also often with the lack of guarantees to the lender in repaying loans and receiving dividends. This circumstance leads commercial banks from among the investors of innovative enterprises on long-term projects. In addition, there are no methodological approaches to lending to innovative enterprises that take into account risk factors.

In our opinion, the repayment of a commercial bank loan to an innovative enterprise should be based on a differentiated approach to the value of the interest rate, the level of which should be determined in direct proportion to the effectiveness of innovative projects and the main performance indicators of innovative enterprises, since the criterion for the discounted cost of a project under conditions of limited inflation and the strengthening of the national currency will have less and less importance on the lending rate.

Factors to be taken into account when determining the interest rate include the following:

Profit received from the implementation of an innovative project;

The amount of costs determined at the stage of development work on the basis of a functional cost analysis;

The share of borrowed funds of an investment fund or bank in the total amount of cost recovery;

The term for the implementation of an innovative project, which determines the timing of the immobilization of credit funds for the implementation of the project and their return to the creditor.

Given the risky nature of innovative projects and the uncertainty of their final result, it should be expected that the planned values ​​of these factors may not coincide with their actual values. The ratio of actual and planned values ​​of factors should lead to a change in the amount of funds for paying interest on a loan, which will aim borrowers to achieve the best results when using a loan.

The deviation of actual indicators from planned ones during the implementation of an innovative project characterizes the indicator of economic risk (risk coefficient).

Positive results of the implementation of an innovative project are characterized by positive values risk ratio, which should be accompanied by a decrease in funds allocated to pay the loan, i.e., a decrease in the interest rate. If the risk coefficient is zero, the innovative entrepreneur repays the loan at the standard interest rate. With a negative value of the risk coefficient, he will have to increase the amount of payment for the loan by increasing the interest rate compared to its planned value.

When establishing a connection between the scales of risk coefficients and the value of the interest rate, it should be taken into account that a sharp excess of the numerical value of the upper limit of the interest rate in excess of the profitability rate of borrowers will extremely reduce the demand for loans, while its small value will not have a stimulating effect on their effective use. The lower limit of the interest rate should cover the current costs of creditors, ensure the profitability of their work and interest in expanding the circle of borrowers.

The establishment of interest rates for loans by commercial banks, taking into account the risky nature of innovative projects, allows them not only to preserve, but also to increase their assets, making a significant contribution to the stability of the economy. The intermediary role of commercial banks, which provides communication between developers and entrepreneurs, also seems promising.

Since the development and release of new products require significant investments, the option allows the company to receive an interest-free loan, while the buyer-broker makes a partial prepayment.

The contract stipulates that in the event of the enterprise's refusal to supply, the interest-free loan turns into a commercial one with a rate not lower than for commercial bank loans.

The method of trading non-manufactured products of an enterprise developed by specialists of the Tyumen-Moscow Exchange (TMB) provides that an enterprise can put up for auction sections of options for goods that have not yet been produced, and the buyer, having paid from 20 to 40% of the cost of the entire batch, receives the right to distribute it as it is produced. The remaining 60-80% of the cost is paid upon delivery.

The conditions for reducing the current prices are negotiated, or the redistribution of income from the sale of products between the producer and the buyer is provided for in the event of an increase in prices.

The development of innovative entrepreneurship in Russia is possible due to the formation of the infrastructure of securities institutions (investment banks and funds, insurance companies), which are designed to ensure the free movement of shares.

An urgent need is the formation in Russia of a system of venture financing of innovative enterprises based on venture funds. Although such funds, actively operating in the field of innovative entrepreneurship in countries with market economies, have existed for a number of decades, for our country they are a new phenomenon in the financial infrastructure.

The most adequate form of innovative entrepreneurial activity in countries with market economies has become "risk business", which organically combines two types of entrepreneurship: financial and innovative, which has singled out two types of economic entities in risky business: venture capital companies and financed or small innovative firms. Risky business performs an important function of stimulating competition in a market economy.

Venture capital is designed to make long-term and potentially highly profitable risky investments based on the creation of new innovative companies, the development and renewal of existing firms, and to finance the privatization of state property.

Venture investments finance entrepreneurial projects that, due to their high risk, do not receive financial support from traditional sources, and property and other assets of risky enterprises cannot act as a guarantee to secure a bank loan. The most important is the role of venture capital in the dissemination of scientific and technological innovations.

Risk capital, which finances innovative projects of private firms, is characterized by a number of features that distinguish it from banking and industrial capital. Risk capital operates under "approved risk" conditions, with capital investors considering in advance the possibility of losing their funds if the funded firm fails, counting on a high rate of return if successful. Risk capital is intended for long-term investment, and the capitalist usually has to wait on average 3-5 years to be convinced of the promise of a new idea, and from 5 to 10 years to start making a return on invested capital.

Risk capital is usually placed not in the form of loans, but in the form of a share contribution in the authorized capital of a small firm, with capital investors acting as partners with limited (contribution size) liability. Depending on the share of their participation, which is negotiated when providing money, venture capitalists are entitled to future profits of the funded firm. The main incentive for investing risk capital is the desire to receive not entrepreneurial, but founder's income, growing the ward firm to such a stage when it becomes profitable to sell it to a large corporation, or to issue and sell its shares on the stock exchange. The excess of the market value of their shares over the invested capital is the main object of interest of risky capitalists, their founder's profit.

The high riskiness of projects and the status of co-owners of the company being founded determine the personal interest of capitalists in the success of the new enterprise. Therefore, venture capitalists, not limited to providing funds, provide management, advisory and other business services, without interfering in the management of the company.

Investing in companies with unique, unparalleled technology turns out to be a risky venture that brings high results. Usually in the early stages of financing, venture entrepreneurs aim to generate a return over a 5-7 year period of 10 times the initial investment.

The birthplace of risky (venture) financing is the United States, where the first venture capital funds emerged after the Second World War. In the United States, there are three main organizational forms of risk capital: small business investment companies under the tutelage of the federal government; specialized private venture capital companies; specialized risk affiliates of large corporations (including for intra-corporate risk financing).

Specialized risk capital companies manage a number of funds dedicated to supporting small innovative firms in either a particular industry or territory.

By their legal status, both the risk capital companies themselves and the cash income under their operational management generated from the funds of pension funds, insurance companies and banks, corporations and the public, are limited liability partnerships or (less often) closed corporations. This legal status is special meaning not only because of preferential taxation, but also because individual investors do not have the opportunity to withdraw their funds from them before a certain period or without the consent of other members of the pool, which ensures the duration of investment payback periods, since the increased risk of investing in innovative firms requires a stable long term policy and a solid financial base.

Many risk capital companies often use the practice of "spread risk", not investing in the project of a single small innovative firm, but spreading it among several projects of different firms, which insures the failure of some projects with the success of others. As a result, innovative firms receive funds from several companies, and the investors themselves have a stake - an acquisition according to their contribution.

The use of venture capital to conclude buyout transactions allows you to maintain a low level of borrowed capital at the first stage of the enterprise's formation. At the same time, the assets of the acquired company are used as a guarantee for obtaining new short-term loans, although the increase in buyout transactions does not create a basis for the long-term development of companies and is predominantly speculative. Negative perceptions of these types of deals are associated with the diversion of large amounts of venture capital at a time when high-tech and innovative companies lack funding for research and development.

In the area of ​​risk capital, there are also individual independent entities (so-called “angels”) who support risky projects of small innovative firms.

Corporations invest in small innovative firms through special affiliates - investment venture firms, or create dozens of investment firms that form an extensive network to capture and use technical ideas.

Small business investment companies are an increasingly growing source of venture capital, as they are entitled to government guarantees for their investments. Small business investment companies are completely independent in their activities and allocate funds not in the form of risk capital, but in the form of long-term loans, which allows them to be classified as traditional financial institutions.

Modern forms of management, reflecting the trend of consolidation of organizational forms of venture capital, are "venture capital clubs", which are associations of various venture capital firms, financiers, large corporations and individual investors. These clubs provide support to venture enterprises that have emerged in a particular sector of the economy or a particular region, including financial support.

In all developed countries, the state plays a decisive role in shaping the venture financing system, implementing a targeted policy in the field of taxes, information support, infrastructure creation, and in the legal field, so it should be stated that the formation in Russia of a system of venture financing of innovative enterprises based on venture funds.

State innovation policy involves legal regulation activities of venture funds and provision of preferential taxation of all or part of the profits of its investors directed to these funds.

In addition to taxation benefits for innovative loans, a set of legal acts should provide for the possibility of expanded reproduction of the fund's financial resources through deductions from profits received from the implementation of innovative projects, ^ benefits in the formation of credit resources as working capital fund, benefits to participants in innovative projects in terms of customs fees and duties, obtaining general licenses and extensions of powers for barter transactions.

In our opinion, the funds of a venture fund should be of a mixed nature and be formed, in addition to contributions from shareholders, from income from the scientific, technical and production activities of the fund, proceeds from the profits of enterprises that have introduced innovations financed by the fund, proceeds from participation in joint ventures, voluntary contributions from ministries , departments, banks, enterprises, individuals, foreign and international organizations and firms.

It seems to be a promising approach in which the state allocates a certain amount of funds from the budget to the innovation fund as a contribution to the authorized capital, and the fund itself subsequently functions through deductions from the profits of enterprises implementing innovative projects financed by the fund, as well as part of the taxes and revenues of these enterprises and other interested investors.

The founders of venture funds can be commercial banks, international financial institutions (International financial corporation etc.), the Russian Academy of Sciences and its institutions, innovative enterprises created at the institutions of the Russian Academy of Sciences, and other legal entities and individuals.

The main goal of the venture fund is to ensure the profitability of the founders' investments as a result of their investment in the commercial implementation of research and development carried out in the Russian Federation, as well as in other states, through the creation of competitive innovative enterprises and the formation of new high-tech industries in the republic.

The main activities of a venture fund can be the following:

Funding of preliminary research and development, assessment of the potential market for innovations, development of business plans for future companies, patenting of inventions, acquisition of rights to patents and licenses;

Creation of innovative enterprises that carry out the production development of innovations, financing the expansion of the activities of such enterprises and their increase in sales of products and services;

Activities to ensure the liquidity of shares of innovative enterprises, the sale of their shares in the secondary securities market.

To carry out these activities, venture funds will analyze the securities market, develop a strategy for entering the stock market, advise developers and entrepreneurs, conduct an examination of their innovative projects, provide innovative enterprises created by the fund with a wide range of services related to the selection of counterparties, intermediaries, with the involvement personnel, implementation of information support, etc.

The Fund can develop and implement strategies for the activities of innovative enterprises it creates in the field of dividend policy, carrying out recapitalization programs, rapid expansion of capital, etc.

The profit of a venture fund should be formed from dividends and proceeds from securities created by the fund of joint-stock enterprises, as well as from income from operations with these securities on the secondary securities market. The profit of the fund directed to the payment of dividends must be distributed among its shareholders in proportion to the number of shares they own.

As recipients of the funds, both individual organizations and collectives and individual scientists, inventors and specialists who propose projects associated with risk can act. It seems to us that the creation of such funds is expedient in each region.

To stimulate the development of priority areas of activity of innovative enterprises, within the framework of regional programs to support private entrepreneurship and small businesses, venture funds can issue loans to risky enterprises, and guarantees to insurance institutions on loans allocated to such enterprises and on insurance premiums for insurance of commercial risks.

When forming venture funds, it is necessary to provide not only a purely administrative nature of control over their activities, but also control by enterprises that are consumers of innovative work financed by the fund. It would be necessary to provide for the possibility of converting part of the fund's resources into securities, directing part of the funds to lending to innovative projects with a contractual establishment of the conditions for reimbursing the loan with the payment of an agreed percentage, and, finally, the right to a certain part of the profit (“royalty” of the fund) in the case of high profitability of innovative projects . This proposal provides feedback between the efficiency of the fund and the amount of funds allocated for its formation.

The creation of a venture capital market based on the activities of venture funds will help overcome the weak interest of commercial banks and the main consumers of scientific and technical products in innovative projects due to high inflation and the unstable state of producing structures, focus on working with innovative enterprises that commercialize scientific - technical innovations.

Innovative funds play the most important role in the functioning of the financial and credit sphere in our country. The main functions of regional innovation funds include financial, material and informational support for initiative inventive and innovative projects.

Despite the insignificant volume of activities and the imperfection of the methods of formation, the scope of innovation activity is being expanded by such specialized innovation funds as the Fund for the Promotion of Inventive and Rationalization Activities, the Federal Fund for Inventions, the International Fund for Entrepreneurship Development, etc. Investment companies are developing that introduce new technologies and information systems in mechanical engineering. There is an association of projects "Sovnet", which unites a number of organizations and specialists, associations of technology parks, science cities, scientific and technical cooperation, etc. It should be noted the organizational diversity of market infrastructure institutions serving innovation activities, by types and levels of functions of infrastructure facilities. Difficulties in their functioning are associated primarily with the lack of a market need for the use of innovations in the economic sphere of production, on the one hand, and with the fact that the specialization of banks in the field of venture capital, capable of ensuring the implementation of competitive technologies, on the other hand, has not been formed in the banking sector.

The considered problem allows us to state that its significance for the development of the national economy, high capital intensity require the direct participation of the state in its resolution.