Innovations Financing in Europe and Russia: Best Practices Analysis

Financing innovations in Europe involves the creation of various incentives to attract potential customers and suppliers due to the specifics of the procurement field and the presence of certain risks for both parties. As a rule, procurement in this area is associated with the risk of not receiving the result due to objective reasons that the parties could not identify at the stage of drawing up the documentation. The European legislation provides for a number of measures, both administrative, technical and legal, aimed at eliminating bureaucratic barriers, creating optimal conditions for the functioning of a competitive environment and further development of innovative products and technologies. This legislative and law enforcement experience of the EU and its member states can be used to improve the Russian legal framework.

European Union, EU, EU law, state procurement, government order, innovation, financing of innovation, research funding, Public Procurement Directive 2014/24/EU, contract system, government order

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