Dmitrik E.G.Stary Oskol Technological Institute named after A.A. Ugarov (branch) of National University of Science and Technology "MISIS", Stary Oskol, Belgorod region, Russian Federation dmitrikeg@mail.ru
Vasil'eva I.N.Stary Oskol Technological Institute named after A.A. Ugarov (branch) of National University of Science and Technology "MISIS", Stary Oskol, Belgorod region, Russian Federation vasilyeva128@mail.ru
Importance Nowadays, the most accessible financial source of various forms of innovation activities in Russia are budget allocations, which are the basis for implementing target-oriented comprehensive programs and higher priority national projects. Therefore, performance evaluation of State innovation policy becomes particularly important. Objectives Influenced by the ideas of globalization, the State regulation of processes related to building economic relations in the sphere of innovation business gets to the new qualitative level that requires clearly defined strategic objectives and tactical actions aimed at combining the interests of the State and innovation business. One of the main tasks of the study is to develop proposals for evaluating economic efficiency of measures of the State innovation policy. Methods A scientifically sound approach to innovative ventures stimulation makes it possible in the near term to strengthen the processes of fruitful work and to increase the share of innovation, creative and noospheric segment of economy, development of small innovation business and new technologies. Using economic and mathematical methods of research, we have developed proposals of calculating the economic effect of measures taken by the State to support innovative ventures. Results The proposals are of applied character and can find practical use while identifying the areas of support to innovative ventures. Thus, obtaining a positive value of effectiveness of innovation policy implementation will testify to growing number of business entities, increased volume of capital investments and innovation. This is possible only in favorable business environment based on democratic principles and freedom of market economy. Conclusions and Relevance We conclude that to assess the level of innovation of the economy it is necessary to use indicators that are based on effectiveness of State innovation policy implementation.
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