Subject This article discusses the problem of attracting investment in projects of the Russian innovation market. Objectives The article aims to identify possible sources of investment for innovation projects of knowledge-intensive companies, and identify the reasons for their low attractiveness to investors and possible ways to increase their competitiveness. Methods For the study, I used the methods of post-hoc, functional and structural, and systems analyses, grouping, sampling, comparison, and synthesis. Results The article highlights key issues related to attracting long-term investments in innovation projects of knowledge-intensive enterprises. Conclusions The Russian innovation market is in its infancy. Support is needed to develop a mutually beneficial relationship between the innovation R&D initiator and the investor interested in profit-making and developing a general innovation background of the Russian economy.
Keywords: innovative projects, investment
Aliev T.Kh. [Financing of startups in economy of the Russian Federation: problems and prospects]. Izvestiya Dal'nevostochnogo federal'nogo universiteta. Ekonomika i upravlenie = Bulletin of Far Eastern Federal University. Economics and Management, 2015, no. 4, pp. 81–88. URL: Link (In Russ.)
Andrianova L.N., Semenkova E.V. [Strategic development of the Russian financial market: initiatives of the megaregulator]. Ekonomika. Nalogi. Pravo = Economics, Taxes & Law, 2016, vol. 9, no. 4, pp. 12–20. URL: Link (In Russ.)
Semenkova E.V., Andrianova L.N. [Actual problems of Russian stock market regulation in the conditions of sanctions]. Finansovyi biznes = Financial Business, 2018, no. 5, pp. 13–24. (In Russ.)
Andrianova L.N., Guseva I.A. [Features of doing business on the Russian stock market in accordance with international standards]. Regional'naya ekonomika i upravlenie: elektronnyi nauchnyi zhurnal, 2017, no. 2. (In Russ.) URL: Link
Bondarenko T.G., Isaeva E.A. [Startups in Russia: the urgent issues of development]. Internet-zhurnal Naukovedenie, 2015, vol. 7, no. 5. (In Russ.) URL: Link
Damodaran A. Investitsionnaya otsenka. Instrumenty i metody otsenki lyubykh aktivov [Investment Valuation: Tools and Techniques for Determining the Value of Any Asset]. Moscow, Al'pina Biznes Buks Publ., 2014, 673 p.
Dzhamaldinova M.D., Duk A.Yu. [The working out of investment project as the development factor of the Russian enterprise]. Voprosy regional'noi ekonomiki = Problems of Regional Economy, 2014, no. 1, pp. 118–123. URL: Link (In Russ.)
Evdokimova S.S., Kobyshev M.S. [Modern models of startup financing]. Finansy i kredit = Finance and Credit, 2017, vol. 23, iss. 6, pp. 341–352. (In Russ.) URL: Link
Mirkin Ya.M. Rynok tsennykh bumag: vozdeistvie fundamental'nykh faktorov, prognoz i politika razvitiya [Securities market: impact of fundamental factors, forecast, and the development policy]. Moscow, Al'pina Pablisherz Publ., 2002, 624 p.
Neznakhina E.L., Kornilov D.A., Veretenova M.S. et al. [Classification of instances of innovation activity of enterprises]. Nauchnoe obozrenie = Science Review, 2012, no. 2, pp. 418–421. (In Russ.)
Pervyshin M.N., Kornilov D.A., Zaitsev D.A. [Financing of venture innovative projects with use of funds of support scientific and technical activities in industrial holdings]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2014, no. 5-1, pp. 662–665. (In Russ.)
Prikazchikova Yu.V.[About the necessity of innovations at the present stage of development of the State]. StroiMnogo, 2015, no. 1. (In Russ.) URL: Link
Stroev I.N. [Problems of financing of innovative projects and ways of their decision]. Nauchnye zapiski OrelGIET = Scientific Journal of OrelSIET, 2010, no. 2, pp. 194–201. URL: Link (In Russ.)
Shilova N.V. [Problems of development of innovations in agrarian and industrial complex and ways of their solution]. Aekonomika: ekonomika i sel'skoe khozyaistvo, 2015, no. 2. (In Russ.) URL: Link
Frolov I.E. [Innovation as a process of capital movement and a key factor in the modernization of the Russian economy]. Finansy i kredit = Finance and Credit, 2013, vol. 19, iss. 7, pp. 18–30. URL: Link (In Russ.)
Harrington H.J. Sovershenstvo upravleniya proektami: iskusstvo sovershenstvovaniya upravleniya proektami [Process Management Excellence: The Art of Excelling in Process Management]. Moscow, Standarty i kachestvo Publ., 2007, 229 p.
Yurlov F.F., Usov N.V. [The choice of optimal solutions in assessing the effectiveness of innovation and investment projects]. Upravlenie ekonomicheskimi sistemami: elektronnnyi nauchnyi zhurnal, 2012, no. 12. (In Russ.) URL: Link
Altman E.I., Rijken H.A. How Rating Agencies Achieve Rating Stability. Journal of Banking & Finance, 2004, vol. 28, no. 11, pp. 2679–2714. URL: Link
Altman E.I., Saunders A. Credit Risk Measurement: Developments over the Last 20 Years. Journal of Banking & Finance, 1997, vol. 21. iss. 11-12, pp. 1721–1742. URL: Link00036-8
Beaver W.H. Financial Ratios as Predictors of Failure. Journal of Accounting Research, 1966, vol. 4, pp. 71–111. URL: Link
Semenkova E.V., Andrianova L.N., Krinichansky K.V. The Concept of Fair Pricing in the Regulation Framework of the Russian Securities Market. Journal of Reviews on Global Economics, 2018, vol. 7, pp. 562–571. URL: Link