Contemporary Models of Government-Backed Venture Project Funding

The paper covers the issues of venture projects funding as development of the relevant funding vehicles is seen as one of the strategic benchmarks of Russian public policy in terms of innovations development and support. It reviews current methods used, their advantages and limitations. Methods employed include analysis of academic sources, comparative analysis, classification, data analysis etc. The goal is to provide review of foreign experience to analyze best practices to improve decision making process for government-backed venture projects. In Russia, assessment of efficiency of interaction between state-owned financial institutions and venture investors is still evolving. The situation drives to improve mechanisms and tools of government financial monitoring and control via building of the KPI system taking into account the possible implementation. Hence, the research results enable to improve efficiency management decisions in terms of funding of innovative government-backed venture projects. Keywords—innovations; national innovation system; digital economy; territorial differentiation; venture investments