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Financial Support for Research, Development and Engineering Instruments and Technology Readiness Levels

Author

Listed:
  • Olga V. Bogacheva

    (Financial Research Institute, Moscow 127006, Russian Federation)

  • Oleg V. Smorodinov

    (Financial Research Institute, Moscow 127006, Russian Federation)

Abstract

At present, the methodology of technology readiness levels (TRL) is used worldwide by both public organizations and private companies to address a number of issues. In the system of public support for the development of the science, technology and innovation (STI) sector, TRL is increasingly used as a tool for R&D project management and funding. At the same time, the TRL methodology is not integrated into the budget process in any country in the world, which does not allow the full potential of TRL to be actualized. For Russia, where the role of state scientific and research organizations and public funding of STI is extremely important, this task is a real challenge. As the authors conclude, not only should the TRL methodology be adapted to the tasks of managing budget expenditures for R&D, but the public funding system with its financial instruments should also be adjusted taking into account the requirements of TRL. The key direction of integrating the TRL methodology into the budgetary process is linking of TRLs with elements of types of budgetary expenditures. This task could be accomplished after having taken the following measures: improvement of the budget classification in terms of R&D expenditures; application of a unified project approach to all instruments of state financial support and a unified classification of R&D projects; provision of a unified system for recording expenditures on science; improvement of public support instruments; and determination of the required ratio of R&D funding from budgetary and extrabudgetary sources for various TRL intervals. This work should include development and implementation of a new approach to understanding the boundaries of the STI sector, stages (types) of scientific activities, planning methods and conditions for the provision of public support, as well as improvements in the conceptual apparatus and tools of the support.

Suggested Citation

  • Olga V. Bogacheva & Oleg V. Smorodinov, 2021. "Financial Support for Research, Development and Engineering Instruments and Technology Readiness Levels," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 8-24, December.
  • Handle: RePEc:fru:finjrn:210601:p:8-24
    DOI: 10.31107/2075-1990-2021-6-8-24
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    References listed on IDEAS

    as
    1. Jan Cadil & Karel Mirosnik & Ludmila Petkovova & Michal Mirvald, 2018. "Public Support of Private R&D–Effects on Economic Sustainability," Sustainability, MDPI, vol. 10(12), pages 1-14, December.
    2. A. A. Sukharev & A. O. Vlasenko, 2020. "Application of the TRL scale to planning of complex science and technology programs in aviation," Economics of Science, Delo Publishing house, vol. 6(1-2).
    3. A. V. Komarov & K. V. Shurtakov & E. V. Chechetkin & K. A. Komarov & M. A. Sleptsova & M. S. Grishina & Y. S. Mironova, 2020. "Practical application of the methodology for the comprehensive assessment of scientific and technological projects using the example of the evaluation of the federal target programs «Research and dev," Economics of Science, Delo Publishing house, vol. 6(1-2).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    technology readiness levels; science; technology; and innovation sector; instruments of public support for development; public funding of research and technology development;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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