Stimulating Enterprises' Innovation Activity: Financial Aspect

摘要

The fast productive forces improvement put innovation to the economic development basis. Innovative economic development is a complex dynamic process causing many problems, and the state gets predominant role to play in the solution of these problems. The advanced foreign countries experience shows that effective state support measures can increase innovation activity and ensure a high level of innovative development in the country. At the same time, development of a system for financing the innovation activities of enterprises on a regular basis is essential for the establishment of a competitive innovation activity sector. An effective financing innovation activity system, for its part, will, firstly, contribute to the rapid introduction of innovations at all levels of the national economy; secondly, the preservation and development of strategic innovation potential in priority areas of development; thirdly, the creation of the necessary conditions for the preservation of human capacity in science, technology, and the prevention of its outflow from the innovation sphere. Without such a system the effectiveness of financing the innovation activities of enterprises reduces due to the inconsistency between the amount of funds allocated. The article justifies the relevance and need for the innovations' development under modern economic conditions. The level of innovative development of the Russian Federation is analyzed using statistics. A comparative analysis of the innovative activity of economic entities in certain parameters in Russia and several other countries is presented. The main sources of financing innovation are examined. The necessity of their use under certain economic conditions is substantiated.