The World Bank will teach Russia how to invest in innovation rightly

In order to evaluate the effectiveness of the funds usage, allocated to the regions on innovation, especially for Russia, the World Bank prepared a pilot program under which a regional innovation laboratory should be set up in the country. This was reported in June, 14 by World Bank Innovation Policy Advisor Peter Lindholm to Rossiyskaya Gazeta.

The project of the National Innovation Observatory aims to collect and analyze reliable data about innovation activities in Russian regions and to assist four pilot regions of Russia in the development of innovative programs on terms of the regions’ co-financing.

The project will be implemented with the support of World Bank, RVC, RUSNANO and the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank). Memorandum of Cooperation was signed by the project participants in June 7, 2012, the press service of the Russian Innovative Regions Association reports.

The official launching of the project will take place in early July, according to Polit.ru portal. World Bank experts will visit 10 Russian regions and will choose four pilot areas to work with. In these regions they will conduct a series of studies, surveys and interviews with those who create and implement innovations to clarify the current situation and draw concrete plans of innovative activities for each region.

The effectiveness of these plans will be assessed by means of specific indicators developed during the analysis of regional situations. These indicators will form the basis of the regional innovation observatory, created to provide monitoring and control over the realization of the plans and measures in accordance with the original targets, time-frame and budgets. Knowing the situation and the availability of specific action plans will allow the regional government to invest funds in innovative projects more rightly. Later, this model can be used in other regions, said Lindholm.

According to him, the four lucky pilot projects will include regions where a large-scale investment program have been already expanded and that have well-developed industry.

In addition, one of the main criteria, according to World Bank representative, will be the interest of local leaders to innovate and the willingness to do it not in words but in deeds.