Business Angels Association as the Core of the Innovation Cluster. The Study of Functions and Roles

Student: Belousova Ekaterina

Faculty: Faculty of Management (Nizhny Novgorod)

Educational Programme: Master

Final Grade: 7

Year of Graduation: 2014

In an age of active development and introduction of new products, services and technologies, the main challenge for companies, especially small and medium-sized firms, introducing a new product, is to find a source of funding. Therefore, the question arose about the need to identify the role of investors, supporting projects from the earliest stages of development, namely, business angels, by the example of advanced innovation systems , as well as the investigation is international practice development of informal investment to stimulate the development of innovative systems in the Nizhny Novgorod region.Object of study in this dissertation is an innovative cluster of Nizhny Novgorod region in the format and on the stage of development in which it exists at the present time, the subject - function and role of business angels and other structural elements of the regional innovation system.In this master dissertation thesis the model of the innovation cluster for the Nizhny Novgorod region, where the Association of Business Angels is the core, as well as the technique of interaction between structural elements in the cluster.During the studied theoretical aspects of innovation (including innovation concepts and innovation, innovation process, innovation activity, innovation process models), analyzed approaches to innovation at the regional level (the concept of regional innovation system, regional innovation cluster, types of innovative clusters, innovation ecosystem), identified the types of innovation clusters and the principles of their classification.In the practical part we investigate the function and role of business angels in the innovation system, describe the structural elements of regional innovation clusters and the relationships between them. The main tool of research-interviewing innovators Nizhny Novgorod region. We were able to prove the key role of business angels in regional innovation cluster. The study identified weaknesses in the interaction between the structural elements in an existing cluster model and proposed improved method of interaction.As a result, we have adapted to the conditions of the developed model of the Nizhny Novgorod region.Scientific novelty of the work is a result of research, we built a model of the cluster, which has had no place in the Nizhny Novgorod region, due to some circumstances. Since now the innovative potential of the region has increased significantly, it becomes necessary to structure the activities of its members. The practical significance due to the fact that the model innovation cluster will push the development of economic prosperity in the region (subject to its well-functioning), in particular to strengthen the role of small and medium-sized businesses.

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