Home  Journals  National Interests: Priorities and Security  8(461) - 2026 August

Venture financing of biotechnology development projects

Received: 18 March 2026

Accepted: 17 April 2026

Available online: 27 August 2026

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: E22, L65

Pages: 101-112

https://doi.org/10.24891/zuhuzs

Subject. This article discusses the biotech projects venture financing.
Objectives. The study aims to assess the scale and structure of the biotechnology market, identify key players and systematize the venture financing projects risks.
Methods. For the study, we used methods of system and structural analyses, statistical data processing, comparative and logical analyses, methods of classification and typology.
Results. The article identifies key participants of the biotechnology market functioning within the framework of a network interaction model, and differences between the global and Russian models of industry development. It also develops a classification of venture financing risks by project lifecycle stages.
Conclusions. The Russian venture financing model is highly dependent on government institutions. It is necessary to take into account the stage structure of risks when forming investment strategies. The results of the research can help in the government innovation support programs development and improvement of management mechanisms for biotechnological projects.

Keywords: biotechnologies, biotechnology market, venture financing, venture capital, biotechnological projects, innovations, investment risks

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