| Abstract: |
This paper explores fundamental issues affecting technology commercialization
of publicly funded research and development (R&D) in the Russian Federation.
Despite substantial R&D investments, Russia has experienced a decline in
scientific output and employment. Nevertheless, the innovation system remains
strong in several technological fields. This paper develops an analytical
framework to discuss conditions for technology commercialization, which hinge
on the innovation system research base, governance of research institutions,
alignment between specialization and sector prioritization, availability and
performance of scientists and engineers, intellectual property (IP) regime for
publicly funded discoveries, and early stage finance. The paper identifies
areas for policy and regulatory improvement to incentivize research institutes
and scientists to undertake research with market potential. These include:
stronger results-based management that rewards commercialization efforts and
focuses not only on high-technology sectors, but also on sectors where Russia
has technological comparative advantages. In addition, researchers'career
development could consider performance metrics that include entrepreneurial
achievements, as well as support for young scientists and for international
collaboration. Moreover, the IP regime for federally funded R&D may consider
transferring full ownership of research discoveries to research organizations.
Finally, to increase deal-flow of new ventures, enhancing the supply of
early-stage financing for new technologies may be considered. |