The analysis of development institutions in supporting innovation activity in the regions and municipalities of Russia

One of the essential tasks of innovative development of Russia is promotion of innovative entrepreneurial activities, finding new and developing existing mechanisms to support innovative companies and organizations. The development institutions operating at Federal and regional level play at the present time a huge role in the support and development of innovative activity and are engaged in co-financing the most important innovative projects. The development institutions to stimulate private investment in priority sectors of the economy, create conditions for the formation of the infrastructure providing access of entrepreneurs operating in the priority areas, to necessary financial and information resources. The largest development institutions can be attributed of State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, RUSNANO, Russian venture company, the Skolkovo Foundation, the Industrial Development Foundation, the Fund of assistance to development of small forms of enterprises in scientific-technical sphere. They provide support through funding business projects, the provision of infrastructural support and co-financing R&D activities. The main areas of support institutions for the development of entrepreneurship projects are having a significant influence on the social and economic situation in regions of Russia, including the creation of jobs: projects aimed at creating new high-tech products, modernization and formation of competitive production on the basis of the best available technologies; the projects associated with the policy of import substitution, nanotechnology projects. Particular attention is also paid to the support and development of small innovative enterprises.This article presents an analysis of the most effective development institutions at the Federal level, which is accompanied by the results of their activities in the regions and municipalities of Russia in 2013–2014.