Mechanisms of State Support of Innovations: Foreign Experience

DOI: 10.20542/0131-2227-2011-10-21-29

A. Eroshkin, “VTB” Bank, 12, Presnenskaya Nab.12, Moscow, 123100, Russian Federation (

Abstract. The article investigates the role of state in providing innovative development of major developed and developing economies, associated with the direct participation of their governments in financing science and facilitating private capital inflows to this sector due to various fiscal and financial instruments. Special focus is made on public-private partnerships which promote concentration of resources and streamline the process in the most innovative and cutting-edge areas of development.

Keywords: innovation, research and development, R&D financing, investment into science and technology, business angels, start-up companies, venture capital funds, tax arrangements, soft loans, guarantees, grants, business incubators, science parks

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For citation:
Eroshkin A. Mechanisms of State Support of Innovations: Foreign Experience. World Eonomy and International Relations, 2011, No 10, pp. 21-29.

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