The problems of commercialization of innovations in Russia

Abstract

Purpose: Article is devoted to the problems of commercialization of innovations in Russia. The main purpose of the article is to figure out the core reasons, which make the process of commercialization ineffective in Russia, through the deep dive analysis of the correspondent literature and data analytics. Discussion: on the basis of various methodological aspects (which are mainly the result of empirical studies of different authors), as well as using own analysis of statistical data, the authors of the article try to identify the main problems hindering the successful commercialization of innovations in the Russian Federation. Results: the analysis of literature, affecting the commercialization of innovations, and the statistical data, have showed that there are five main factors, which don’t allow innovations to be successfully commercialized in Russia: a low speed of diffusion of innovations; lack of incentives, aimed at innovations commercialization; absence of venture capital deals or a complete absence of venture capital deals; imperfectness of institutional environment.