REVERSE INNOVATIONS: WORLD EXPERIENCE AND OPPORTUNITIES FOR RUSSIA

Abstract

The paper discusses such a new phenomenon in innovation economy as "reverse innovation”. The nature of reverse innovation consists in the movement of innovative products created in developing countries to the developed ones, i.e. in the «opposite direction». Innovation products or services created in developing countries are much less expensive and, therefore, are in high demand. The author argues how to create conditions for reverse innovations development in Russia through venture capital financing. This could give a new impulse to the domestic economy in terms of innovations and help increase the share of innovative products in the GDP of the Russian Federation.