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Financial support of innovation activity

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Increasing innovative activity is one of the priorities for the development of the country’s economy. The article considers the types of resources necessary to implement innovation activity, focusing on the study of financial resources that play a key role in ensuring the innovation process. The author has summarized and extended the existing classification of financial resources used to support innovation. The relevant criteria have been selected: type of source. type of ownership. management position, timing. government characteristics, stage of the project life cycle in terms of innovation, type of investee. The structure of internal costs for technological innovation in Russia has been analyzed as a function of various sources of financing. Internal funding has been found to be the main source. The main challenges of financing innovative projects have been identified, ways of meeting them suggested. The role of forming an effective system of public-private partnership (PPP) as one of the key directions in ensuring efficient financing innovative projects with government participation has been outlined.

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