Selection of a development strategy for the region based on assessment of innovative capacity

In modern conditions of Russia’s embarking on the path of innovative develop- ment, it is necessary to select an effective development strategy. The innovative capacity of regions should be assessed for this purpose. In the article we have con- sidered different approaches to definition of "innovative capacity", and methods of its assessment, as well as offered our own interpretation of this concept. The ad- vantages and limitations of various methods for assessing innovative capacity are shown. We have emphasized the following innovative development strategies: strategies for faster growth; strategies for gradual growth; strategies for sustaining the market position. The proposed matrix model for selection of innovative devel- opment strategies is based on assessment of the innovation capacity and radicality of innovations. The article also specifies the conditions for implementation of the selected development strategy in the region.