Developing the system of financing applied research and projects in the region

In modern conditions the most important source of economic growth is scientific and technological progress. In the developed countries - the USA, Japan, Germany, the UK, France, in new industrial states of Southeast Asia and China - a 75-90% GDP growth is achieved due to “knowledge progress” - the intellectualization of main production factors. At the same time, these processes are slower in Russia (to a large extent), which determines its lagging behind the leading foreign countries. Thus, the innovation activity of enterprises of the real sector is at a low level, only every tenth company implements innovative projects, while this figure reaches 65-70% abroad. The management policy implemented by public authorities in promoting scientific and technological development is often non-system and inefficient; the system of incentives for research and development at the regional level does not properly provide the processes with necessary resources. In this regard, the purpose for the study is to identify the areas of formation of organizational and legal conditions to stimulate applied research and development at the regional level. For this purpose, the authors study the existing trends in innovation development of Russia and its regions, identify the opportunities for stimulating applied research and development at the regional level, calculate the effectiveness of these activities on the materials of constituent entities of the Northwestern federal district. The article proposes and practically substantiates the need to establish regional funds to support scientific, technical and innovation activities, the purpose for which is to finance applied research and development. The materials can be used by researchers, graduate students and students, as well as all those interested in the problems of innovative development of the regional economy and industries and their solutions.