Assessing the region’s innovation potential using the BCG matrix (case study of the Vologda region)

The raw material export model that has dominated for many years has now almost completely exhausted itself. In the context of sanctions barriers, the key prospect for further development of the Russian economy is the knowledge economy, which in developed countries helps to increase living standards, improve production efficiency and many other positive effects. To realize a safe transition to the innovation model of the economy, it is necessary to know the innovation potential and its main trends. The aim of the work is to identify the problems and prospects for developing the Vologda Region innovation potential. To achieve the goal, we solved the following tasks: we carried out a theoretical review of the concept of “innovative potential of the region”; constructed BCG matrices reflecting the innovative potential of the Vologda Region in 2010, 2015 and 2022; and highlighted the key problems and prospects for the innovative potential development in the Vologda Region. The research determines that the Vologda Region is characterized by problems in terms of innovative products production, personnel and science financing. We propose the directions of support measures to strengthen the Vologda Region innovative potential. The research results may be useful to regional authorities, graduate students, as well as other persons interested in the innovative development of territories.