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September 2018 (published: 27.09.2018)
Number 3(34)
Home > Issue > Systematization of risks of the innovative project and possibilities of financing
of the innovative project at the expense of venture funds in Russia
Belskaya L.S. , Laskina L.Y.
The company implementing the innovative project inevitably faces emerging risks at each stage of its implementation: high interest rates on long-term loans, lack of high-tech equipment and materials in the domestic market, lack of specialists, financial resources, lack of demand for a new product. The company's management or top managers need not only to anticipate and calculate the upcoming innovative risks as much as possible, but also to propose measures to manage these risks. The article proposes one of the options for systematization of risks for the company that implements an innovative project. The proposed classification of risks is based on the idea of risk isolation in the context of the stages of implementation of the innovation project. One of the significant risks of the innovation project is the lack of financial resources. Failure to provide innovative development with financial resources is a serious problem at the stage of company formation. One of the ways to solve the problem is venture financing. The article analyzes the possibilities of financing innovative business through venture capital in Russia. It is revealed that the most popular sector among the funds for investment is information and communication, the total share of investments is 71% of the investment volume. Another characteristic feature of the development of venture investments in Russia is that the formation of venture funds is more on a regional basis, rather than sectoral. Knowledge of the peculiarities of venture in-vestment in Russian startups can solve the problem of lack of financial sources and significantly reduce or eliminate this risk.
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Keywords: innovation, risk, project, research, innovation risk, strategy, venture investment, venture Fund, direct investment.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 336.64
Systematization of risks of the innovative project and possibilities of financing
of the innovative project at the expense of venture funds in Russia
The company implementing the innovative project inevitably faces emerging risks at each stage of its implementation: high interest rates on long-term loans, lack of high-tech equipment and materials in the domestic market, lack of specialists, financial resources, lack of demand for a new product. The company's management or top managers need not only to anticipate and calculate the upcoming innovative risks as much as possible, but also to propose measures to manage these risks. The article proposes one of the options for systematization of risks for the company that implements an innovative project. The proposed classification of risks is based on the idea of risk isolation in the context of the stages of implementation of the innovation project. One of the significant risks of the innovation project is the lack of financial resources. Failure to provide innovative development with financial resources is a serious problem at the stage of company formation. One of the ways to solve the problem is venture financing. The article analyzes the possibilities of financing innovative business through venture capital in Russia. It is revealed that the most popular sector among the funds for investment is information and communication, the total share of investments is 71% of the investment volume. Another characteristic feature of the development of venture investments in Russia is that the formation of venture funds is more on a regional basis, rather than sectoral. Knowledge of the peculiarities of venture in-vestment in Russian startups can solve the problem of lack of financial sources and significantly reduce or eliminate this risk.
Read the full article
Keywords: innovation, risk, project, research, innovation risk, strategy, venture investment, venture Fund, direct investment.
DOI 10.17586/2310-1172-2018-11-3-14-22