Journal of Entrepreneurship Education (Print ISSN: 1098-8394; Online ISSN: 1528-2651)


Development of Economic Tools for Managing Regional Innovation Clusters

Author(s): Viktor Konstantinov, Tatyana Sakulyeva, Viktoria Makeeva

Investment policy aimed at strengthening the innovative potential of the regional economy is an important tool to increase its competitiveness, improve the quality and standard of living of the population. This research proposes the main economic indicators (efficiency ratio of the state investment policy (Kef), venture investments, the economic link between the university and the enterprise) necessary for the effective management of the development of regional Innovation Clusters (IC). The implementation of these indicators in the Skolkovo Innovation Center (Russia) was analyzed. As a result of the research, it was found that in Russia the efficiency of innovation management tools in clusters such as business incubators and technology parks of the university is not high, and the average is 1.3 (unit/1000 students). This means that the economic link between the university and the enterprise is low. It has been shown that ICs attract venture capital investments. In particular, the Skolkovo Innovation Center attracts 40% of Russia's total venture capital investments. The developed tools demonstrate the regional authorities how to structure their activities in the IC management. Also, they give an opportunity to propose strategies for entrepreneurs and provide them with the information on how to take the advantage of innovation clusters.

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