The article reviews the basic indicators of scientific and technological capacities of Russia in comparison with those typical of other developed and developing countries. It presents evidence of widening gaps in research and development not only of the most advanced, but also some developing countries. The gap is largely due to the low size of funding science, particularly fundamental. Lack of attention to this area is reflected in the reduction in the number of researchers, scientific institutes and design organizations. The paper shows that the main problems of scientific and innovation policy are imbalance, inconsistency in the formulation and implementation of scientific and innovation priorities. Currently on the agenda, there is a necessity to break out of the situation, though various catch-up mechanisms of development are often proposed as a way out. The article highlights the risk of this type of policy. To overcome the backlog of problems, the paper is offering to bring back the proposed in the 1950-ies in the USSR, the concept of "overtake with no catching up" and focus on areas related to the sixth technological wave: nano-, bio-and IT-technologies. It gives the examples of already existing in these areas the achievements of Russian Science, which suggests a certain potential for breakthrough innovation. The author concludes that the more open Russian market, the enhanced adaptation of domestic legislation to international norms and the best practices, greater integration into the global economic system would improve Russia's business climate, competitiveness and investment attractiveness of services and technologies.
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