Вопросы экономики и управления международный научный журнал 5 (07) / 2016

Эк
ономиче
ск
ое развитие и рос
т
23
Management of innovations:
present day features and prospects in Russia
Svetlana Sergeevna Boeva, graduated
Saint-Petersburg University of economics
Mikhail Dmitriyevich Pashkov, graduated
Saint-Petersburg University
Боева Светлана Сергеевна, выпускник
Санкт-Петербургский государственный экономический университет
Пашков Михаил Дмитриевич, магистрант
Санкт-Петербургский государственный университет 
T
he whole world today speaks about innovations due to 
the fact that society is on the brink of the fourth indus-
trial revolution. Russia is not an exception; it has made in-
novation a top priority for the development and economic 
growth. It needs to be emphasized that the Russian inno-
vation system is vertical, which means that the micro level 
of innovational development, or the involvement of innova-
tions in the business process, depends directly on the macro 
level, or the regulation of innovations. As a result, the macro 
level will be the cornerstone of this essay. This topic is ex-
tremely actual and practical, especially in current crisis.
The path from invention to innovation lies within the 
system of public and political institutions, which have not 
encouraged ideas being brought to life over in the past. De-
spite Russian scientists not being innovatively behind their 
European counterparts, even being first to make some dis-
coveries, they have found themselves in difficulties when at-
tempting to move beyond the actual product to the mass 
market. The foreign scientist Loren Graham says that 
Russian inventors often emigrated from Russia, that they 
didn»t find recognition in their homeland, and that they 
often died in poverty [1]. Today the Russian government is 
full of determination to improve this situation, but internal 
arguments have appeared regarding the best way to trans-
form Russian innovation.
In 2011, the Russian government made the first serious 
step and formed a ten-year strategy concerning Innovative 
Development [2], including forming the basic elements 
of the innovative ecosystem. Institutions of development 
and innovative infrastructure have been created; such ex-
amples include the Russian Venture Company (RVK), and 
Skolkovo Innovation Centre, founded in 2010. A state-
owned enterprise entitled the Development of Industry 
Fund and the Agency of Strategic Initiatives have also been 
established. As a result, today Russian venture market has 
not only been created but has also exceeded the European 
venture market in terms of volume, being worth over 1 bil-
lion dollars [3]. In 2015, a national technology initiative 
was announced [4], which includes changes in regula-
tory regulations, in fiscal and professional policy, and in the 
ways in which innovative companies work and are rewarded.
The fact that Russia has developed its innovative institu-
tions considerably can also be proved by international rat-
ings. For instance, on the Global Innovation Index
1
(GII), 
Russia has risen 16 places since 2010 [5], currently ranking 
48th out of 143. In GII terms, Russia has the strongest po-
sition in Human Capital and Research, and is ranked 26
th
. 
It also needs to be mentioned that Russia has dramati-
cally improved its knowledge and technology outputs, and 
the number of both patent requests for inventions, and the 
number of scientific publications have increased. How-
ever, there are some problems, which can often be found 
in Russia if we look at market sophistication, such as credit, 
investment and competition. According to the Bloomberg 
Innovation Index
2
(BII), Russia is in 14
th
place [6]. China 
is the only county, which exceeds Russia among BRICS, 
taking 29th place in GII, although in BII, Russia overtakes 
China, mainly because of the level of education. As a result, 
GII seems to be more objective.
If we look at statistics alone, Russian innovations have 
become reality, a fact which is difficult to deny, but on the 
other hand, if we look at labor index and productivity, we 
can see that there are problems in Russia»s innovation 
sphere. For example, labor productivity in Russia is ap-
proximately three times lower than that in the USA sug-
gesting that somewhere along the line Russian innovation 
isn»t working [7]. It means that it is not time for innova-
tion, but for modernization, which means concentrating on 
buying innovations instead of creating them. On the other 
hand, judging technological lag solely by using an average 
of labor productivity among many different companies is 
incorrect. For example, when a company thinks about in-
novative improvements, the first thing that they should 
do is to research the market and look at their competitors, 
which are different depending on the type and size of com-
pany. Only after this, they look at the economy within the 
country. According to research carried out by McKinsey, 
the level of technological lag is completely different in dif-
1
Appendix 1.
2
Appendix 2.

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