Regional development institutions in stimulating regional innovation activity (experience of the Voronezh region)

Abstract

Purpose: this article is devoted to comparison study of the existing regional development institutions and supportive measures of innovative activities in regions. Therefore a goal of the analysis is to find the best innovative practices, and compose recommendations, concerning innovation policy. Discussion: in this article there’s been made a comparison of the existing regional development institutions of Voronezh and Kaluga region (one of the leaders of innovative development in CFD), and, also, regional development institutions of Voronezh region’s been compared with institutions in the USA and Great Britain (New Mexico in the USA and North East England in Great Britain). Results: оn basis of the research authors suggest initiatives, concerning improving the potential of innovation commercialization and the result of innovative activities of Voronezh region.