Simplified understanding and regulation of the innovation cycle of scientific and technical innovations in the Russian legislation under the conditions of science financing, that lags behind the level of science financing in the BRICS countries, and the oligopolistic nature of the Russian economy results in undermining innovations on the part of such non-economic factors as extralegal appropriation of intellectual property, unilateral authority-based strategizing and interference into economy, inflated refinancing rate of the Bank of Russia. To implement the tasks of import substitution the author suggests introducing the practice, justified in the works of Jean Tyrol, 2014 Economics Nobel Laureate, which involves concluding agreements between a regulatory public authority and oligopolists, who target domestic markets, in the sphere of the innovation cycle from knowledge to consumer goods.
Innovation, scientific and technical innovation, innovation cycle, innovation cycle stages, innovation management, oligopoly, strategy.
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