Business programme

Thirty Years of Innovation Policy in Russia: Lessons and Prospects in Relation to Creating Tech Champions

16 Jun , 17:00–18:15
The Russian Economy: New Objectives and Horizons

The word ‘innovation’ entered the Russian political lexicon in the 1990s around the same time the term ‘innovation policy’ was gaining popularity around the world, and various countries from the United States and China to Finland and Israel had begun building or improving their own innovative systems. In the 2000s, Russia also began building its own innovative system and allocated significant budget funds and administrative resources for this purpose. By the late 2010s, it became clear that building the innovative system based on foreign models was not producing tangible results. The issue of creating a brand-new model of the innovative system has become particularly relevant given the closure of numerous foreign markets and the need for the prompt import substitution of technological solutions. In the current environment, it is crucial to take a look at the existing experience gained from building an innovative system and discuss new approaches to innovation that could affect government support measures and create preconditions for the emergence of world-class technology companies in Russia in the future.