Developing an open innovation model: focus on intellectual property lending

Abstract

The implementation of import substitution and ensuring technological sovereignty is not an easy task for the Russian economy, which correlates with intensification of innovation activity in all spheres of national economy. One of the major factors to ensure necessary dynamics in transforming the domestic economy is the availability of free exchange of innovative technologies among subjects of various sectors in the economy provided by the conception of open innovations. Current models of innovation systems, with prevailing state financing of R&D, are not effective enough, which creates prerequisites for involving credit organizations into this area in order to intensify R&D, especially in the areas essential for practical activities. The authors propose developing and adapting the open innovation model in relation to the participation of credit institutions. The purpose of the study is to substantiate the role of credit institutions as an ecosystem actor in the open innovation model. The research methodology is based on the analysis of theoretical and practical works on open innovation theory in order to apply lending secured by the results of intellectual activity. The major results of the study are based on (i) considering the open innovation model to properly include credit institutions as an ecosystem actor, (ii) proposing possible solutions regarding the cooperation of actors in innovation processes, and (iii) selecting innovative projects for possible secured lending which will accelerate the processes of innovative development. The obtained results can be used for further development of this area and in practice of the subjects of innovation activity.