Innovation potential of regions within the Arctic zone of the Russian Federation: assessment methodology, comparative analysis, development prospects

Innovation potential, which determines economic competitiveness of a region (country) is an important indicator of sustainable development and growth of territories. Many existing approaches to measuring this indicator require further discussion within the academic community. It is necessary to supplement and expand the tools to improve the assessment of the quality of the indicator under consideration. The Arctic zone of the Russian Federation is in the scope of Russia’s strategic interests due to the geopolitical and geo-economic positions of this territory in the modern world (12-15% of the country’s GDP is created here, and 25% of exports is provided). Eight RF constituent entities belonging to the Arctic territories are the object of our study. Methodological basis includes analysis of documents that define strategic development of territories within the framework of the innovation direction, and review of existing approaches to assessing innovation potential level. Regional statistical data serve as the information base. The aim of the research is to develop a methodology for assessing innovation potential using objective indicators grouped into blocks and calculated using the integral method. The results are visualized on a radar chart that contains indicators for the regions included in the RF Arctic zone. This makes it possible to compare RF constituent entities according to the degree of innovation potential and determine their position. We suggest clustering regions, identifying leaders and outsiders so as to substantiate proposals to stimulate key areas in innovation activity. We provide an interpretation of the values of innovation potential level. The findings of the research indicate the necessity to design programs for regional development of territories with the involvement of large business as a potential investor.