Scientific journal NRU ITMO
Series "Economics and Environmental Management"
Registration certificate ЭЛ № ФС 77 – 55411 от 17.09.2013
registered by the Federal Inspectorate Service for Communication, Information Technologies and Communication Media
ISSN:2310-1172

September 2026 (published: 15.09.2026)

Number 3(66)

Home > Issue > Investment and financial support for IT startups in a region: economic efficiency and risks of the digital environment

UDC 336.58:332.1:004

DOI 10.17586/2310-1172-2026-19-3-24-34

Investment and financial support for IT startups in a region: economic efficiency and risks of the digital environment

Akent'eva A.V. , Degtereva V.A., Makarova O.N., Makarova Yu.N.

Article in Russian
Reference for citation: Akent'eva A.V., Degtereva V.A., Makarova O.N. Makarova Yu.N. Investment and financial support for IT startups in a region: economic efficiency and risks of the digital environment. Scientific journal NRU ITMO. Series «Economics and Environmental Management». 2026. № 3. Р. 24-34. DOI: 10.17586/2310-1172-2026-19-3-24-34.

Abstract. The article is devoted to the study of investment and financial support for IT startups at the regional level in the context of its impact on the sustainability of the regional economy and the risks of the digital environment. The subject of the study is the organizational and economic relations arising in the process of applying support measures for IT startups and determining their contribution to the development of the regional digital economy. The purpose of the paper is to analyze the existing instruments of investment and financial support for IT startups, assess their effectiveness and limitations, and develop recommendations for improving regional policy. The object of the study is IT startups as an element of the regional innovation ecosystem and the set of conditions for their support in the digital economy. The methodological basis of the research includes a comparative analysis of financing instruments, grouping of regions according to the parameters of startup activity and the capacity of the local IT market, as well as a risk-oriented approach to assessing the impact of support measures on the sustainability of the regional economy. The study analyzes the main forms of financing IT startups in Russia, identifies differences in regional startup activity, examines the dynamics of venture investments, and determines the key factors of support effectiveness. It is established that the highest efficiency is demonstrated by combined models that integrate financing, acceleration, infrastructure support, and consideration of regional specifics. A mechanism of balanced support for IT startups is proposed, including diagnostic, financial and investment, acceleration and infrastructure, and risk management components. The practical significance of the results lies in the possibility of their application in the development of targeted regional support measures for the IT sector aimed at increasing the sustainability of the regional economy and minimizing the risks of the digital environment. The findings can be used by regional authorities, development institutions, and regional infrastructure organizations supporting technological entrepreneurship.

Read the full article 


Keywords: regional economy; information technologies; IT startups; investment and financial support; digital economy.

References:

1.    Dedusenko E.A., Elina O.A. Molodezhnoe tekhnologicheskoe predprinimatel'stvo: trendy i vyzovy sozdaniya startapa // Vestnik Udmurtskogo universiteta. Seriya «Ekonomika i pravo». 2022. T. 32. № 4. S. 628–634. DOI: 10.35634/2412-9593-2022-32-4-628-634.

2.    Dobrolyubova E.I. Gosudarstvennoe upravlenie po rezul'tatam v epokhu tsifrovoi transformatsii: obzor zarubezhnogo opyta i perspektivy dlya Rossii // Voprosy gosudarstvennogo i munitsipal'nogo upravleniya. 2018. № 4. S. 70–93.

3.    Matt C., Hess T., Benlian A. Digital Transformation Strategies // Business & Information Systems Engineering. 2015. Vol. 57, no. 5. P. 339–343. DOI: 10.1007/s12599-015-0401-5.

4.    Little A.D. Attracting Foreign Direct Investment in Cultivating Digital Economy. [Elektronnyi resurs]. Rezhim dostupa: URL: https://www.adlittle.com/sites/default/files/viewpoints /arthud_d_little_viewpoint_foreign _direct_investment.pdf (data obrashcheniya: 25.04.2026).

5.    StartupBlink. Startup Ecosystem Ranking Report 2020. [Elektronnyi resurs]. Rezhim dostupa: URL: https://report.startupblink.com (data obrashcheniya: 25.04.2026).

6.    Podderzhka sub"ektov malogo i srednego predprinimatel'stva cherez instrumenty pryamogo finansirovaniya [Elektronnyi resurs]. Rezhim dostupa: URL: https://lazovskymo.gosuslugi.ru/netcat_files/184/2968/KEYS_pryamoe_finansirovanie_SMSP.pdf (data obrashcheniya: 25.04.2026).

7.    SPRINT 2.0: ofitsial'nyi sait. [Elektronnyi resurs]. Rezhim dostupa: URL: https://sprint.iidf.ru/?utm_source=inc&utm_medium=specialproject&utm_campaign=2022 (data obrashcheniya: 25.04.2026).

8.    Inc. Russia. Regional'nye startapy. [Elektronnyi resurs]. Rezhim dostupa: URL: https://incrussia.ru/specials/regional-startups/ (data obrashcheniya: 25.04.2026).

9.    Bulaev G.A., Burdenko E.V. Finansirovanie startapov v usloviyakh innovatsionnoi ekonomiki // Postsovetskii materik. 2024. № 1(41).

10.  Issledovaniya rossiiskogo rynka venchurnykh investitsii i startapov // Moskovskii innovatsionnyi klaster. [Elektronnyi resurs]. Rezhim dostupa: URL: https://i.moscow/invest/guid (data obrashcheniya: 17.10.2023).

11.  Vodop'yanova V.V., Gusev D.A. Otsenka rezul'tativnosti programm podderzhki predprinimatel'stva v regionakh // Innovatsionnaya ekonomika: informatsiya, analitika, prognozy. 2025. № 5.

12.  Chariyarova S.T., Madaev K.T. Ekosistemy startapov i investitsii v tsifrovoi ekonomike // Matritsa nauchnogo poznaniya. 2023. № 9-1. S. 285–287.

13.  Seitz N., Buratti M., Lehmann E. E., Kurrle J. A meta-analysis towards the effectiveness of startup accelerators // The Journal of Technology Transfer. 2026. Vol. 51, no. 1. P. 373–413. DOI: 10.1007/s10961-025-10218-6.

14.  Kamenskikh M.A. Issledovanie praktiki funktsionirovaniya biznes-akseleratorov v Rossii // Regional'naya ekonomika: teoriya i praktika. 2018. T. 16. № 9(456).

15.  Tyurchev K.S., Milova K.E. Chto nuzhno startapu? Regional'nye faktory razvitiya malogo tekhnologicheskogo biznesa v Rossii // Gosudarstvennoe upravlenie. Elektronnyi vestnik. 2024. № 105.

16.  Yanchenko E.V. Regional'naya innovatsionnaya ekosistema: otsenka effektivnosti funktsionirovaniya v usloviyakh tsifrovizatsii // Voprosy innovatsionnoi ekonomiki. 2023. T. 13. № 2.

Editorial address:
191002, St. Petersburg, street. Lomonosova 9, office. 2138, phone (812)480-02-71,
e-mail: economics@itmo.ru

Rules for using information in the ITMO domain zone
Personal Data Processing Policy

Information 2007-2026, All rights reserved
Department of Internet Solutions NRU ITMO © 2013
Яндекс.Метрика