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Innovation, Finance and Funding in the Russian NSI Thiruvananthapuram, India, August 19-21 2009 Natalia Gorodnikova
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2 Contents Financing: dynamics & scale Innovation activity & output Existing financial instruments Financial system and NSI Further policies
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3 Gross Expenditure on R&D GERD, % to GDP200520062007 Planned1.361.511.62 Actual1.07 1.12
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4 Federal budget appropriations for civil R&D Current pricesConstant 1991 prices (million rubles, before 1998 – billion rubles)
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5 Innovation activity & output
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6 Structure of expenditure on technological innovation
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7 Innovative SMEs’ activity & output
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8 Innovation efficiency
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9 Innovative G&S markets Share of innovative G&S in total sales, %
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10 Existing financial instruments Direct funding: Budgetary funding Programme funding Grant funding Private / foreign foundations PPP projects Venture funding
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11 Existing financial instruments (cont.) Indirect funding: Federal taxes -VAT -Income tax Regional / local taxes Advanced mechanisms: simplified taxation
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12 Role of the financial system Share of internal funds in expenditure -on R&D: 30% -on technological innovation: 86% Reason – lack of alternative sources -Difficult access to credits -Underdeveloped grant system for innovation -Poor venture support
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13 Further policies Technological modernisation: -New approach to public purchases -Advanced priority setting -Tax reforms -Industrial sector sanitization -Selective assistance
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14 Further policies (cont.) Institutional adjustment: -Single concept for the tax reform -Targeted budgetary reform -Single concept for direct funding R&D sector development: -Reorganisation (sanitization) of R&D institutions structure -Assistance to commercialisation -Mobility boosting
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15 Thank you!
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