Issue №1, 2018

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National venture ecosystems as a source of innovative development

Full article 

S. S. Zmyak, Don State Technical University, Rostov-on-Don, Russia, Doctor of Economics, Assistant Professor, The Head of Department of International Economics and Business, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

E. A. Ugnich, Don State Technical University, Rostov-on-Don, Russia, Ph.D., Assistant Professor, Department of International Economics and Business, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Venture capital is a critical factor in improving the efficiency of economic transformation, which is being implemented in many countries in the transition of the national economy to an innovative path of development. The application of the ecosystem approach to the study of venture investment allows you to more deeply explore it from the standpoint of the interaction of participants, factors and mechanisms that affect the nonlinearity of innovative processes. The paper reveals the role of the venture ecosystem as a source of innovation process development. The analysis of the main characteristics of national venture ecosystems at the present stage is given. The article shows the prospects for the development of the Russian venture ecosystem, which is based on the effective symbiosis of public and private initiatives against the background of favorable institutional conditions.

Keyword: Innovative process, venture capital, venture ecosystem, national economy, economic system.

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For citation: Zmyak S. S., Ugnich E. A. National venture ecosystems as a source of innovative devel- opment // Corporate governance and innovative economic development of the North: Bulletin of the Research Center of Corporate Law, Management and Venture Capital of Syktyvkar State University. 2018. № 1. Р. 100—108.