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Finance: theory and practice Vol. 26, No. 2’2022 financetp. Fa. Ru1577-3225-1-PBDEVElOPMENT OF A MODEl
OF FINANCIAL INCENTIVES
FOR INNOVATION ACTIVITIES
IN INDUSTRIES
The development of innovation activity in
industries is interconnected with the rate
of economic growth of the country. Equally,
a sufficiently high level of scientific and
technological development, as well as the
formed innovation potential of industrial
enterprises, according to the author, will
contribute to the transformation of domestic
production, change in the established
conservative model of Russian business, the
introduction of breakthrough innovations,
taking into account the activation of digital
processes in the business environment.
In addition, the authors of this article
believe that in order to significantly increase
innovation activity in industries, a number
of conditions must be met, which are as
follows. Firstly, it is necessary to achieve
a sustainable increase in the innovation
activity of companies operating in industrial
sectors, since from 2018 to 2020 the value of
this parameter is extremely small, and the
growth rate is unstable. Secondly, the role
of innovative facilities infrastructure in the
financial incentives for innovation activities
is important, but in modern conditions, their
functioning in the Russian economy is faced
with strategic, marketing, information, and
system-wide problems. Thirdly, budget
financing of innovation projects implemented
in the industrial business should be more
than 50%, while this condition is actually
observed, based on statistical data: 66.7%
of the funds invested in projects are state
financial support from the budget.
3
Fourthly,
the state policy must be effective, in this case,
it is necessary to develop ways of stimulating
companies operating in industrial sectors in
terms of the active implementation of R&D in
practice. According to the authors, an effective
state policy is a set of consistent steps aimed
at financial incentives for companies to
3
Science. Technology. Innovation. 2019. URL: https://www.
hse.ru/primarydata/niio2019 (accessed on 09.11.2021).
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