The Russian Government provides extensive support to spur innovation in state-owned companies and institutes, however, this has thus far delivered limited results. Innovative approaches have yet to become a part of the ‘genetic code’ of Russian companies, while ecosystems of open innovation are growing rapidly in other comparable economies. How can the gap in the innovative capabilities between Russian companies and their global peers be closed, and how can these firms better leverage intellectual capital and IT to boost performance?
Innovations in and of themselves are pointless. You need business to make them useful for somebody.
I think one of the mistakes that many countries are making is the focus on direct investments as money. Money alone will not create innovation.
What Russia can and should do is become a leader in the field of engineering and research outsourcing.
In cooperation with RUSAL