Venture Investments as a Key Factor of Innovative Development of Economic Systems

Modern development of the global economy depends on the ability of the countries to introduce new technologies, providing themselves with high-quality growth in the long term. One of the main sources of such development is venture capital. The article considers trends in the development of the venture industry. The main events that influenced the formation of the venture capital investment market in Russia were highlighted. The activity of venture funds as an effective form of venture capital investment of startups has been analyzed in this article. The world trends in the development of the venture capital industry are listed; barriers and drivers of the venture capital investment market in Russia are outlined. As for the obstacles to the development of the Russian venture market, such factors as the political situation, the financial and economic crisis, and the lack of positive dynamics in the legislation aimed at creating favorable conditions for the development of the venture industry, the lack of highly qualified personnel in the relevant field and many others can be distinguished. As barriers following factors are mentioned: a drop in the value of companies, a crisis in the banking sector, an increase in the timing of investors’ exits from projects, extremely low demand for innovation from large players, and insufficient funding for R&D.