Russia ranks eighth worldwide in terms of public funding of innovation

Russia came to eighth place in the world for public funding of innovation, said President Dmitry Medvedev meets with young scientists and entrepreneurs, which is held in Skolkovo.

“Our country is now among the top ten world leaders in the funding of research and development activities. In recent years we have built up public spending on these projects and came in eighth place in the world for investment in research and development, equaling those advanced in this meaning states like Britain, France, ahead of Italy and Canada, “- said Medvedev.

However, the president said weak growth in private investment in innovation.

“Business so far in this sense is not so active as we’d wanted to. There are, of course, reasons. The cost of Russian companies to develop innovative technologies have grown from 190 billion rubles in 2006 to 350 billion rubles in 2010. This growth, I do not I can recognize significant. Frankly, it’s pretty weak growth, “- said Medvedev.

29 October 2011

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