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PDF: Author(s): Timoshenko M. A.,
Number of journal: 1(18) Date: February 2012

One of the important aspects of the scientifically justified mechanism of funding of the modernization and innovation process is a clear definition of its sources not only of the entire process but of each individual phase, because certain funds invested from different sources are required at the stages of innovations creation, their distribution and especially at the stage of their implementation in the production. The main factors influencing the modernization and innovation development are the sources of funding, motivation and effectiveness of modernization and innovation activities. The features of development of modernization and innovation processes in Russia compared to the other countries have a number of significant peculiarities, the most important of which is a phased development over the time.


modernization and innovation process, funding mechanism, motivation, innovations, financing, budgetary resources, extrabudgetary funds

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