The essence and goals of the innovative economy

Definition 1

Innovative economy or new economy (knowledge economy) are industries with a high share of intangible, human capital(information and communication technologies, science, education and consulting services). This is the economy of new information technologies, quality processes that contribute to the leadership of the subject and the competitiveness of the products produced.

An innovative economy effectively uses any innovation that is useful to society: patents; know-how; licenses; borrowed technologies or own development.

An innovative economy contains six main elements:

1. the science;
2. education;
3. human capital (high quality of life and highly qualified specialists);
4. favorable environment for the functioning of the innovation system, work and life of innovators;
5. innovation system ( legislative basis and material components: business incubators, clusters, technology parks, technopolises, venture business and etc.);
6. an innovative industry that implements innovations.

The goal of innovative economics as a science is to study mutually beneficial relationships between people within their economic activity, which is associated with the creation and implementation of innovations.

Note 1

The ultimate goal of an innovative economy is growth economic potential countries based on increasing the efficiency of using available resources through the creation and implementation of innovations. This is the creation of conditions for active economic growth, which will ensure the effective economic development of society, which as a result will contribute to the growth of the well-being of the country's population.

The basis for creating an innovative economy is considered to be regular updating of knowledge and an increase in the need for creativity and culture. This allows us to create innovative production technologies to maximally satisfy the growing needs of people, improve their quality of life and achieve personal and social well-being.

Conditions for the formation of an innovative economy

The development of an innovative economy makes it possible to carry out fundamental changes not only in the sphere of production, but also in the social environment, promotes humanization of spheres of people's lives, minimizes the negative impact on the environment and promotes the improvement of other sectors of the economy.

Choice optimal option carrying out innovative transformations and their implementation, it is necessary to study the conditions for the formation of an innovative economy.

Note 2

A feature of innovative economic development is the increasing importance of new technologies and ways of disseminating knowledge. The main driving force of this process is the technology of knowledge generation, information analysis, its transfer and effective application.

The industrial sector of the economy is beginning to give way to the technological and communication components. There is a dynamic growth in the virtual sphere of the economy.

The main condition for the formation of an innovative economy is the consistent implementation of innovations, the presence of demand for them and high-tech products. Computerization plays a methodological role. New industries are emerging whose activities include the supply and processing of data (information and communications). Innovations are actively used in medicine, nuclear energy, and aerospace manufacturing.

The innovative economy is also formed by such technologies as: biotechnology; nanotechnology and new materials; military technologies; technologies for rational environmental management and energy saving.

The core of an innovative economy is people as carriers of ideas and knowledge. A person is perceived as valuable capital. The importance of consumers is also growing due to the development of Internet technologies. Companies are becoming customer-centric, striving to satisfy the differentiated individual needs of specific consumers. Personalization is actively used in working with clients. Consumers have the opportunity to become involved in the process of creating goods for themselves, forming product configurations and monitoring the entire production and marketing process.

Another condition for the development of an innovative economy is not so much the use of existing resources, but rather the provision of the possibility of their reproduction in the future and energy saving.

The growth of social spending is a condition that distinguishes the innovative economy of most countries. Spending on healthcare should be 5-10% of GDP (according to the requirements of the World Health Organization), on science - 1.5-3% of GDP, education - 5-7% of GDP. Particularly high rates of social spending in developed countries, which indicates the active development of an innovative economy.

Factors of development and formation of an innovative economy

The formation of an innovative economy depends on a number of factors. They are divided into two groups. The first group is the factors that determine the existence of any economic system.

These factors include the following:

• Natural and climatic (resource and raw material potential of the country);
• Production and economic (means of production, forms of organization of production and labor, technology, level of education and qualifications of personnel);
• Socio-cultural (priority life values, attitudes, cultural traditions that determine the spiritual and creative activity of a person).

Factors of the second group determine the qualitative characteristics of the economic system. They are the ones who contribute to the formation and effective functioning of an innovative economy.

These factors include:

1. innovation-oriented human capital;
2. venture investment;
3. research potential;
4. innovation transfer system;
5. development of cooperation between science and business;
6. formation of innovative entrepreneurship;
7. innovation infrastructure;
8. state policy on the formation of an innovative environment;
9. international conditions.

The very development of innovation activity is a key factor in the country's economic growth. An innovative economy should be based on the intellectual and creative component of human capital, the use of high technologies, expanding the role of science and education in industry, and the use of innovations in all spheres of human life.

Science and technology have today become a decisive factor in the economic development of any country. They play a leading role in solving all problems of economic, environmental, social and cultural development.

The results of scientific research as a kind of “information resource” make it possible to increase the efficiency of social production and achieve the highest level of economic development. It is already generally accepted that the development and diffusion of new technologies plays a central role in achieving growth in output and productivity.

One of the key factors that has led to radical structural changes in the global economy over the past 20–30 years has been the rise economic role innovation. These changes are common and specific to different countries manifestations that can very roughly be grouped into two sets of signs. The first of them relates to the innovative behavior of enterprises and organizations, the second – to the innovation policy of states. Moreover, in both cases, the urgent problem is the choice of strategic priorities, mechanisms and directions for investing financial resources, effective forms of cooperation with other participants in the innovation process.

Currently, innovative development is becoming the most important element of the socio-economic development of countries and regions. Growth of the economies of the USA, EU, Japan, South Korea, China, India is largely due to the development of knowledge-intensive industries, the development and implementation of innovations. Without innovation, the economic system would reach a stable equilibrium, which would hinder the further development of the national economy.

At the present stage, innovation should have such properties as novelty, the ability to quickly sell on the market, applicability in any field of human activity and the ability to bring economic and other types of effect.

In relation to innovation, all CIS countries can be divided into four groups. The largest first group includes Armenia, Moldova, Tajikistan and Kyrgyzstan, where the existing economic potential makes it difficult to introduce innovations. State budget deficit, its replenishment mainly due to foreign loans, lack of export goods attractive to the world market, dependence family income from revenues from abroad cannot create the necessary financial support for innovative development.

The second group includes Azerbaijan, Uzbekistan and Turkmenistan, where, due to large foreign exchange earnings from the export of energy resources and other highly liquid raw materials on the world market, there are certain financial resources, which the leadership of these states are forced to spend on other purposes, and not on innovative development.

Certain measures to expand the innovation sector are being carried out in the third group of CIS countries - Ukraine, Belarus and Kazakhstan. But they are limited by the small volumes of their economic potential, which does not allow for a large-scale approach to innovation.

Since 2007-2009, the business sector has seen a significant improvement in macroeconomic and institutional conditions for innovation, but now new risks and restrictions have emerged that hinder the innovative activity of enterprises in Russia (the influence of the global financial crisis, shortage of highly qualified personnel, relatively high cost inflation within the country, etc.).

Statistics show that a limited number of industrial companies are still innovating. Innovative activity is observed mainly among some large companies and some types of economic activity.

The countries that make up the world's technological core - the USA, Japan, Germany, Great Britain and France - secure their leading positions based on high degree activity of innovation, achieved through a constant increase in the share of R&D expenditures in the GDP of these countries.

At the same time, Japan is in first place among the leading countries in terms of intensity of innovation activity, and continues to maintain its leading position (Table 1).

Table 1

Leading countries in terms of intensity of innovation activity

It is fundamentally important that economic efficiency in modern society is achieved not only through the development of science and real production, but also on the basis of ensuring the effective functioning of all phases of the innovation cycle - obtaining new knowledge, transferring it to the production sector of the economy through the market and production use. Since such use is carried out, as a rule, with the aim of obtaining economically significant competitive advantages in the final product market, all stages of the innovation cycle are under strong informational, organizational, financial and other influence of market factors. It is the economic interest of the recipient of innovation that ultimately determines the feasibility of implementation, direction, scale and forms of innovation activity.

Increasing the level of economic development of a country makes significant changes in the ratio of resources and needs. States that have reached high level economic development are often faced with resource shortages. At the same time, increasing the level of economic development of the country leads to a quantitative increase and qualitative renewal in the system of economic needs of all economic entities, primarily the personal needs of the population. Thus, as the level of economic development increases, the contradiction between the limited resources and the limitless expansion of the needs of the population increases.

The social product is determined not so much by its material content as by the degree of innovation. Production costs increasingly depend on the quantity and size of intangible investments - the costs of Scientific research and development, acquisition of patents and licenses, education and training, consulting services, improvement of management structure, etc.

Knowledge-intensive industries currently account for, on average, more than half of the GDP of developed countries, and these industries are experiencing the highest rates of growth in production, employment, investment and foreign trade turnover.

Based on the foregoing, innovation can be characterized as the final result of creative activity, embodied in the form of a new or improved product sold on the market, or a new or improved technological process used in practical activities. The creators of innovation are guided by such criteria as the ability to sell the product on the market and its economic efficiency. Their main goal is to surpass all competitors in the market by creating something new that will be unique in the field. The effect of using innovation depends on the results and costs taken into account, and efficiency is determined through the ratio of these results and costs.

A feature of the current stage of development of innovative activity is the formation in the largest companies of unified scientific and technical complexes, combining research and production into a single process. The presence of such a close connection between the stages of the “science - production” cycle is due to scientific and technological progress and the market needs of the company.

For the effective development of innovation activities, public financing and regulation of innovation processes play an important role.

In conditions market economy the innovation process should be financed not only from the state budget, but also from several other sources. In times of economic crisis, only important innovative projects that affect the development of the economy as a whole should be financed from the state budget. To do this, in order to improve the financing of innovation processes in state budget It is advisable to highlight a separate strategic direction for financing high-impact innovations.

State regulation of economic and innovation processes is the main prerequisite for the effective and successful development of innovation activities in a market economy. It is necessary to carefully coordinate the activities of all participants in the innovation process, using all the levers of a market economy. To do this you need to lower lending rates banks, attract financial resources from the non-state sector, involve an increasing number of industrial enterprises in the innovation process, thereby reducing the economic risk of innovation.

Technology parks are also progressive forms of organizing innovation activities. They support the development of innovation activities and facilitate the transfer of ready-made scientific and technical innovations to the market. For the first time, technology parks appeared abroad. Thus, the first technology park was created in the 1950s. at Stanford University (USA). Currently, it is the largest technopolis, numbering about 8,000 innovative firms.

There are many types of technology parks, the main goal of which is to strengthen connections between scientific research, development and business. These connections give rise to small high-tech enterprises and contribute to the accelerated promotion of the results of scientific research and development to the market. Consequently, the main function of technology parks is to integrate science and business. The financial result of the technology park’s activities is profit from the sale of the results of scientific and design work, etc., which belongs to its organizers in accordance with the adopted charter. Almost all technology parks are formed on the initiative of the state with the involvement of private firms, which are the only ones allowed for financing. The following main types of technology parks are distinguished: scientific, technological, business incubators, technopolises.

The main function of the science park is to conduct theoretical, fundamental and applied research. For knowledge-intensive companies at different stages of development and limited in financial and material resources, the park provides the opportunity to conduct scientific research for quite a long time.

The technology park is a research and production complex that ensures the development of technologies, their transformation into a commercial product and transfer to production, testing and certification of products, service, and expert assessment of technologies. The park's production base is determined by the capabilities of the founding firms.

Business incubators are complex multidisciplinary complexes and are designed to educate and support small businesses, provide them with innovative services and train staff. Create business incubators large companies, local authorities, government departments, private foundations. A business incubator, being essentially a unique form of a technology park, performs its functions by supporting companies that overcome the pre-launch period for a strictly limited time (incubation period 2-3 years).

Technopolis is a research and production complex created on the basis of a separate small city with developed infrastructure and ensuring its vital functions. Mostly large companies interested in conducting research and developing new firms take part in technopolises. As a rule, technopolises are associated with electronics, biotechnology, computer science, high-precision engineering and other high-tech industries, as well as priority development high technology, the concentration of scientific forces in those areas of science that will determine the level of production in the 21st century. It should be noted that there is no single and orderly model for creating technology parks. Moreover, the theoretical basis that substantiates the need and specificity of the conditions for their creation, the ways and methods of achieving them financial stability, has not been sufficiently worked out. However, there are more than 40 technology parks in Russia, which include several hundred small innovative firms. The concept of technology parks in Russia has the main goal of creating qualitatively new organizational and economic conditions effective use scientific and technical potential of the country within the framework integrated into technology parks of small knowledge-intensive enterprises.

More on the topic The role of the innovation factor in the global economy. New forms of connection between science and business:

1. 1.2. Main characteristics of globalization of the world economy
2. 1.2. Russian business community - a key category of analysis
3. STATE REGULATION OF INNOVATION ACTIVITY IN DEVELOPED COUNTRIES
4. ORGANIZATIONAL AND ECONOMIC MECHANISM OF INTEGRATION OF LARGE ENGINEERING ENTERPRISES INTO THE FINANCIAL INFRASTRUCTURE OF INNOVATION DEVELOPMENT
5. 2.3 Structural levels of analysis of capital of an innovative company
6. Sustainable economic growth as a condition for stabilizing the economy
7. The role of the innovation factor in the global economy. New forms of connection between science and business.
8. 3.3. Development of production factors in the conditions of the scientific and technological revolution
9. § 1. Law as an effective tool for influencing the economy in the light of the modern interpretation of the essence of the Russian social system
10. 3.1. General characteristics of innovative legal relations arising in connection with the implementation of innovative activities
11. 4.1. General characteristics of innovation legislation of foreign countries

- Copyright - Advocacy - Administrative law - Administrative process - Antimonopoly and competition law - Arbitration (economic) process - Audit - Banking system - Banking law - Business - Accounting - Property law - State law and administration - Civil law and process -

Craft Jiri, Doctor of Economics, Professor, Vice-Rector for Academic Affairs, Head of Department economic theory, Technical University, Liberec (Czech Republic), Czech Republic

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Introduction

The relevance of the research topic is determined by the need to develop theoretical principles to increase the sustainability and efficiency of industrial development based on innovation, i.e. based on the knowledge economy. This is especially important in conditions of limited economic resources and insufficient use of scientific and technological progress.

Today, extensive development factors have been practically exhausted and it is necessary to increase the efficiency of the national economy on the basis of qualitative improvement of production factors, that is, on the basis of full use of scientific and technological progress. The country's competitiveness and its place in the world economy depend on the successful implementation of innovation policy. The development of industry and overcoming the existing gap in the field of scientific developments and technologies is one of the fundamental goals of Russia’s national economic security strategy.

Nowadays, in the context of weakening state regulation of economic growth, there is a process of spontaneous development of innovative activity in industry, and many Russian technologies are being replaced by foreign technologies. As a result, Russia lags far behind developed countries in terms of quality of life, labor productivity and level of use of economic resources. Therefore, it is extremely important to study this problem, to identify forms, methods and priorities for sustainable development of Russian industry.

The purpose of the thesis is to develop theoretical principles and recommendations for ensuring sustainable development of industry based on the transition to an innovative path of development.

To achieve this goal, the following tasks were set:

– summarize and systematize the main theoretical principles related to ensuring sustainable development of industry and the country’s economy as a whole;

– analyze the state of industry and scientific potential of the Russian Federation;

– consider methods of state regulation of effective economic growth in industry;

– show the need and main directions for the formation of a national innovation system;

– identify factors and priorities for sustainable economic development of Russian industry.

The object of the study is industry as the most important system of scientific economy in Russia.

The subject of the research is theoretical and practical issues of ensuring sustainable development of industry in Russia

The following methods were used in the work: induction and deduction, economic and statistical, balance sheet, graphic, monographic and others.

The information base for the study was data from statistical reporting on Russian industry, concepts and developments of scientific institutions, domestic and foreign scientists, regulatory and legal acts of the Russian Federation dedicated to the development of the country's industry.

The practical significance of the work lies in the fact that the scientific principles, conclusions and proposals obtained during the research can be used by the executive branch in solving strategic problems aimed at ensuring the sustainable development of the country's industry.

1. Theoretical foundations for ensuring sustainable innovative development of Russian industry

1.1 Essence, types and classification of innovations

An analysis of domestic and foreign literature has shown that the level of development and dynamism of the innovation sphere is the main factor of economic growth for most countries. Therefore, today the country’s place on the world stage is determined not so much by the abundance of labor and natural resources, but by the quality of human capital, level of education, the nature of the practical use of knowledge, and the innovative activity of the national economy.

The modern economic dictionary states that “innovations are innovations in the field of technology, technology, labor organization and management, based on the use of scientific achievements and advanced experience, as well as the use of these innovations in a wide variety of fields and fields of activity.”

It should be noted that different scientists, depending on the object and subject of research, consider innovation as follows:

– as a process (V.S. Rapport, B. Santa, etc.);

– as a system (V. Lapin, J. Schumpeter);

– as a change (O. Vodachkova, Yu. Yakovets, etc.);

- as a result (S. Beshelev, F. Gurvich).

For example, J. Schumpeter means by innovation new products, new technologies, new forms of organization of industrial production, and the opening of new markets.

In our opinion, innovation is an innovation introduced into production that acts as a factor of intensive economic growth in order to obtain an economic, social, environmental, scientific, technical or other type of effect.

We support the point of view that it is necessary to distinguish between the concepts of “novelty” and “innovation”. Innovation is a formalized result of R&D. Innovations can take the form of: discoveries, inventions, patents, trademarks, documentation for a new or improved product, technology, management or manufacturing process. However, the main thing is to introduce an innovation, turn it into an innovation and get a positive result.

Innovations in economic analysis are divided into main, decisive, i.e. into those that fundamentally change the nature of the production process or provide the opportunity to release a previously unknown product on the market, and, secondary, that modify only the form of the product or any process.

Thus, innovation activity consists of two stages: the first includes the acquisition (or creation) of an innovation, and the second involves its implementation. Therefore, only such activities of an industrial enterprise (and society as a whole) can be called innovative, which includes the implementation of these two stages and brings economic and other types of effects.

The totality of resources (labor, material, financial, scientific and technical) used for innovative activities in industry constitutes the innovative potential of the industry. Innovation activity is not a goal, but a means of expanded reproduction of the country’s economy and increasing its efficiency.

The study of theoretical approaches to understanding innovation makes it possible to give a comprehensive classification (Fig. 1).

The classification feature “level of use of innovations” shows the possibilities of using the latter. For example, the development of a new system of remuneration for public sector workers, closely related to the final results of labor, is an innovation at the national economic level, and new progressive forms of labor organization in industry are innovations at the sectoral level.

	Classification sign of innovation
	Level of innovation use		– national economic; – industry; – territorial; – primary management
	Degree of radicalism		– radical; – systemic; – modifying
	Field of activity		– economic; – technological; – production; – social; – environmental; – marketing
	Effect of innovation		– economic; – financial; – scientific and technical; – social; – environmental; – integral

Figure 1 – Classification of types of innovation

The classification criterion “degree of radicalism” shows that innovations must be subdivided depending on the use of scientific knowledge in them and the impact on economic development. For example, radical innovations are associated with fundamental discoveries, the results of which are used in various areas of social activity. In turn, system innovations are also based on scientific research, but have a limited scope. As for modifying innovations, we are talking only about improving equipment, technology and labor organization.

The classification feature “sphere of innovation activity” characterizes the introduction of innovations into the economic, technological, technical, production, and marketing spheres.

The classification feature “effect from innovation” reflects the impact of the introduction of innovation on the performance of an enterprise, industry and the country’s economy as a whole. The effect of innovation can be technological, financial, scientific and technical, social, environmental, marketing or integral.

The following main types of innovation in industry can be distinguished:

– innovation of products (works, services);

– innovation of technological processes, or technological innovation;

– organizational innovation;

– social innovation.

1. Product (service) innovation is the creation of a new product or service, which increases the competitiveness of an enterprise and the entire society.

2. Innovation of technological processes or technological innovation is a process of updating the production potential of a subject of innovative activity, aimed at increasing productivity and saving resources, which, in turn, makes it possible to increase profits, improve safety precautions, carry out environmental measures, and introduce new information technologies.

3. Organizational innovation represents the process of improving the organization of production and management at an enterprise, in an industry, in the Russian economy as a whole. Industrial property. Personnel security innovation. ... sustainable economic development Russia in the 21st century The main tool for a technological breakthrough is the turn of investment towards innovation, innovative ...

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Topic: Innovation factor in economic development

Type: Test| Size: 66.88K | Downloads: 91 | Added 01/20/14 at 21:41 | Rating: 0 | More Tests

University: Financial University

Year and city: Orel 2013

Introduction 3

1. Innovation factor in economic development 4

2. Determine net present value, profitability index and payback period for capital investments 8

Conclusion 11

References 12

Introduction.

The relevance of the research topic is due to the fact that innovations underlie the development of the material and spiritual culture of society, what's the main thing characteristic feature new systems of intra-company management should be focused on the long term, innovative activities, and maximum use of the creative activity of staff.

Economy is an integral part of material culture and its development is based on practical application new ideas, discoveries, etc. Therefore, innovation is the driving force behind the development of social production.

The main goal of the test is to consider the impact of the innovation factor on the quality of economic growth.

To achieve the goal, the following tasks were set:

Familiarize yourself with the main innovative factors in economic development.

1. Innovation factor in economic development.

Currently, the importance of the innovation factor in the country's economy is increasing. In modern conditions, the development of science becomes an indispensable condition for creating the prerequisites for sustainable spiritual, intellectual, scientific, technical and socio-economic development of society and the state. High technology is an area that can solve the most ambitious tasks in the socio-economic development of any state. They are the powerful lever with which many countries not only overcome the economic downturn, but also ensure its structural restructuring and saturate the market with a variety of competitive products.

A feature of the development of the Russian economy at the present stage is the formation of a socio-economic system in which innovative activity plays a dominant role as a factor providing competitive advantages of the highest order. In general, the construction of an innovative economy and its management system consists of a fundamental restructuring of development directions, new approaches to justifying priorities, significant modernization of methods and forms of resource use at all levels of the innovation system, and a radical transformation of the interaction between “science - business - government - society”.

By innovation we understand the creative process of implementing an idea, embodied in the form of a new product, service, technology, form of organization, management method, changes in the quality of the workforce, which represent a tool for meeting needs at a qualitatively new level, have positive economic and social effects and provide strategic competitive advantages to their owners.

Stages of innovative development in the country's economy

Model of innovative development along with the use of traditional competitive advantages in the energy sector involves the creation and activation of new factors of economic growth that meet the challenges of the long-term period. This is a breakthrough in increasing the efficiency of human capital and creating comfortable social conditions, liberalization of economic institutions and increased competitiveness of the business environment, accelerated spread of new technologies in the economy and development of high-tech industries, activation of external economic policy. The action of these factors collectively ensures that the Russian economy enters a trajectory of long-term sustainable growth with an average rate of about 106.4 - 106.5% per year.

The innovative development of the Russian economy until 2020 will take place in 2 stages, differing in terms of conditions, factors, risks of socio-economic development and priorities of the state’s economic policy.

The first stage (2008 - 2012) is based on the implementation and expansion of those global competitive advantages that the Russian economy has in traditional areas (energy, transport, agricultural sector, natural resource processing).

At the same time, institutional conditions and technological groundwork will be created that will ensure, at the next stage, a systematic transfer of the Russian economy to the mode of innovative development. This stage is characterized by the following conditions of economic development:

1) adaptation of the economy to negative phenomena in global financial markets;

2) narrowing the possibilities for a forced increase in energy and raw materials exports, adapting the economy to the worsening foreign economic situation and lower world prices for oil and raw materials;

3) reduction in supply labor resources due to a decrease in the working age population, an aggravation of the shortage of professional personnel;

4) the negative impact on the economy of restrictions from the energy and transport infrastructure;

5) increased competition in domestic markets, associated, on the one hand, with increasing consumer demands for the quality of goods, and on the other, with the exhaustion of price competitive advantages of manufacturing industries;

6) change in the macroeconomic situation, cessation of the strengthening of the ruble due to a decrease in the foreign trade balance.

The second stage (2013 - 2020) is a breakthrough in increasing the global competitiveness of the economy based on its transition to a new technological base (information, bio- and nanotechnologies), improving the quality of human potential and the social environment, and structural diversification of the economy.

The main priorities of economic policy at the second stage in the field of innovative development include the following:

1) integration of the national innovation system into the global innovation system, integration of science, education and business;

2) expanding the positions of Russian companies in global high-tech markets, transforming high-tech industries and branches of the knowledge economy into a significant factor of economic growth;

3) ensuring intensive technological renewal of mass production on the basis of new energy- and resource-saving environmentally friendly technologies, the formation of centers of global competence in the manufacturing industry, the field of intellectual services and other sectors of the economy, solving the problem of providing the economy with highly professional personnel.

The effectiveness of the innovation factor in economic development is largely determined by the innovation infrastructure. Therefore, innovation infrastructure is a basic component of the innovation economy and the innovative potential of society. Innovation infrastructure is a set of interconnected, complementary production and technical systems, organizations, firms and corresponding organizational and management systems that are necessary and sufficient for the effective implementation of innovation activities and the implementation of innovations. It determines the pace of development of the country’s economy and the growth of the well-being of its population. The experience of the developed countries of the world confirms that in the conditions of global competition in the world market, those who have a developed infrastructure for creating and implementing innovations and who own the most effective mechanism for innovation activities inevitably win.

The role of highly qualified specialists in the innovative economy is very large and will constantly grow. Therefore, training personnel capable of effectively managing innovation processes, developing and implementing innovative projects is a priority regional and federal problem[

Innovation, embodied in new scientific knowledge, products, technologies, services, equipment, personnel qualifications, and production organization, is the main factor of competitiveness in all economically developed countries. Ensuring sustainable innovative development of Russian regions will allow us to solve such an important task of implementation public policy, as maintaining competitiveness and achieving a high level and quality of life for the population.

2. Determination of net present value, profitability index and payback period of capital investments:

Without discounting;

Taking into account discounting at a discount rate of 0.2.

The initial data is shown in the table.

Index
1. Volume of capital investments, thousand rubles.
2. Volume of product sales (excluding VAT), thousand rubles.
3. Cost of products sold, thousand rubles.
4. Including depreciation, thousand rubles.
5. Taxes and other deductions from profit, thousand rubles.

Let's determine net present value (NPV) using the formula:
where Rt are the results achieved at the t-th calculation step; Zt - costs incurred at the same step; T - time period of calculation; E - treble rate; K - the amount of discounted capital investments.

If the NPV of an investment project is positive, the project is effective and can be accepted. The higher the NPV, the more effective the project.

NPV = (4000 - 3000 + 300 - 200) × 1/(1+0.2) + (8000 - 5500 + 400 - 400) ×1/(1+0.2)² + (10000 - 6000 + 400 - 500) ×1/(1+0.2)³ + (10000 - 6000 + 400 - 500) ×1/(1+0.2) - 5000 × 1/(1+0.2) - 1000 ×1/ (1+0.2)² = 916.3 + 1735 +2258.1 +1879.8 - 4165 - 694 = 1930.2 >

The profitability index is the ratio of the sum of the reduced effects to the amount of capital investment.
If the profitability index is equal to or greater than one (ID> 1), then investment project effective, and if less than one (ID< 1), то неэффективен.

Let's calculate the profitability index (PI) using the formula:

ID = 916.3 + 1735 +2258.1 +1879.8 / 4165 + 694 = 6789.2 / 4859 = 1.4 >

Let's calculate the payback period of capital investments (Juice):

Without discounting:

6000 - 3600 = 2400;

2 years 7.5 months

Taking into account discounting:

916,3+1735=2651,3;

4859 - 2651,3= 2207,7;

2207,7/188=11,7;

2 years 11.7 months

1) NPV = 1930.2 > 0, which indicates the profitability of the project.

2) ID = 1.4 > 1, which indicates the effectiveness of the project.

Conclusion.

In conclusion, based on the test material provided, conclusions can be drawn.

To ensure sustainable progress in the transition of the economy to an innovative path of development, it will be important to combine the following areas of innovative development of sectors of the Russian economy:

1)increasing the competitiveness and export potential of high-tech sectors of the economy based on the development and implementation of advanced technologies;

2) development of a set of “breakthrough” technologies that determine the possibility of forming new markets for high-tech products (services), developing new industries, modernizing a wide range of economic sectors;

3) technological modernization of the public sector and infrastructure sectors, expanding the range of new and high-quality public services;

4)increasing efficiency, reducing resource intensity, expanding processing in the raw materials industries.

As a result, in the future Russia can achieve a 5-10% share in the markets of high-tech goods and intellectual services in 8-10 positions, including: nuclear technologies; aircraft manufacturing; shipbuilding; software; weapons and military equipment; educational services; space services and production of rocket and space technology.

The problem was solved and the result was the following answer:

1) NPV = 1930.2 > 0, which indicates the profitability of the project.

2) ID = 1.4 > 1, which indicates the effectiveness of the project.

3) Juice = 2 years 11.7 months. (taking into account discounting at a discount rate of 0.2).

Juice = 2 years 7.5 months (excluding discounting).

Bibliography.

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