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Investments in R&D and innovations lay the ground for steady growth of national economies and business competitiveness. In the West, substantial funds for technology development are contributed by private investors, while in Russia the leading role belongs to the Government so far. Another pressing problem for the Russian economy is efficient transfer of technology, i.e. its commercialisation and practical application in the industry and other areas.
The top five countries by the amount of investment in R&D are the US, China, Japan, Germany and South Korea (UNESCO Institute for Statistics).
In most countries, the bulk of financing for new developments comes from the corporate segment.
Experts of the Federal Research Centre for Projects Evaluation and Consulting Services under the Russian Ministry of Education and Science point out that the main challenge Russia is facing is not so much “production” of new knowledge as its commercialisation. They mention the following issues:
As a result, the Russian economy is often forced to borrow foreign technology instead of using its own developments.
However, measures have been taken recently to improve the situation. Technology parks are being opened at universities, large research centres, tech cities and restricted-access cities.