Importance Innovative development is one of the strategic goals of any region. Attaining this goal requires to set up a regional innovation system (RIS), which would boost the innovative activity of economic agents and have a positive effect on the place competitiveness. Objectives The research provides the rationale for the RIS as part of the national innovation system (NIS) and, respectively, its key elements, such as innovative infrastructure, competitive environment in the market, innovative policy. Methods The research involves general methods of research, systems approach, macroeconomic analysis, synthesis, induction, deduction, comparative analysis. The research also draws upon the general theory of systems that views the RIS as a NIS constituent, and aspects of an institutional analysis. Results The article ranks Russia by innovative activity level, determines trends in scientific capabilities of the Ulyanovsk oblast and maps out the formation of the regional innovation system, which implies the institution for development of innovative economy as the single coordinating and transacting center for all innovation-driven parties. Conclusions and Relevance RIS shall be further promoted and improved for socio?economic development of the region and its competitiveness growth. Furthermore, it is necessary to prioritize the formation of scientific capabilities as the basis for the innovative economy.
Keywords: innovative activity, regional innovation system, innovative economy, region
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