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

Olga V. Bogacheva and Oleg V. Smorodinov ()
Additional contact information
Olga V. Bogacheva: Financial Research Institute, Moscow 127006, Russian Federation
Oleg V. Smorodinov: Financial Research Institute, Moscow 127006, Russian Federation

Finansovyj žhurnal — Financial Journal, 2021, issue 6, 8-24

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.

Keywords: technology readiness levels; science; technology; and innovation sector; instruments of public support for development; public funding of research and technology development (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.finjournal-nifi.ru/images/FILES/Journa ... ii/01_6_2021_v13.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:210601:p:8-24

DOI: 10.31107/2075-1990-2021-6-8-24

Access Statistics for this article

Finansovyj žhurnal — Financial Journal is currently edited by Vladimir S. Nazarov

More articles in Finansovyj žhurnal — Financial Journal from Financial Research Institute, Moscow 125375, Russia Contact information at EDIRC.
Bibliographic data for series maintained by Gennady Ageev ().