Scientific and practical recommendations for fostering innovative entrepreneurship in Russia

Aim. The work aimed to identify challenges in establishing conditions for the development of innovative entrepreneurship in Russia and to formulate scientific and practical recommendations to address these challenges.

Objectives. The work examined the process of creating conditions for the development of innovative entrepreneurship; considered the content of the innovation ecosystem and determined its elements; explored various views on understanding the problems associated with the formation of conditions for the development of innovative entrepreneurship and identified key ones among them; systematized the conditions taking into account the generation of their interrelations according to the innovation ecosystem elements and searched for directions for the implementation of measures stimulating the development of innovative entrepreneurship; developed scientific and practical recommendations in the field of forming conditions for the development of innovative entrepreneurship and creating a favorable innovative climate that stimulates the business activity of entrepreneurs.

Methods. The study employed general scientific methods, including logical and systemic approaches, as well as applied methods such as structural, systemic, and comparative economic analysis, incorporating statistical data analysis and graphical methods.

Results. The work systematized key conditions for developing innovative entrepreneurship, including institutional, infrastructural, regulatory, administrative, managerial, organizational, economic, and other factors, taking into account the formation of their relationships across the elements of the innovation ecosystem, and identified the key problems of their creation. The analysis of literary sources revealed the facts of insufficient development of the innovation infrastructure and not entirely rational organization of coordination of actions of entities of innovation relations, a shortage of qualified personnel involved in the production of innovations, and the lack of connections between a number of entrepreneurial structures and scientific organizations, a shortage of financial resources within the organization of state, corporate financial support, as well as high interest rates on bank lending to the scientific and technical sector, insufficient efficiency of investments in innovation, a low level of business activity of entrepreneurs and stimulation of demand for innovative goods, works and services, insufficiently effective institutional regulation of the innovative sector of the economy. The research proposed a set of measures to support entrepreneurial activity, grouped by fields of application within innovative activities. Scientific and practical recommendations in the field of creating conditions for the development of innovative entrepreneurship are proposed. They include measures to create a favorable innovation climate that stimulates business activity of entrepreneurs; educational, scientific and technological interdisciplinary integration activities within the development of international partnerships between Russian and international entities engaged in innovation activities, implemented based on mutually beneficial international transfer of advanced technologies with friendly countries; tax incentives for innovative entrepreneurship; administrative measures aimed at involving insurance organizations and financial and lending institutions, and exchange trading marketplaces in innovation processes; measures to improve the level of interaction between entrepreneurs and scientific structures and increase the effectiveness of cooperation with the higher education system.

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