Development of an Application for Assessing the innovative Potential of the Region

At present, country's ability to implement innovations in the right way ensures the state’s development and competitiveness in the world market. However, the innovative growth of a country is highly dependent on the degree of innovative development of its regions. This study examines how different characteristics of Russian regions can affect the area’s innovative potential. A lot of studies have been devoted to this topic, but there is no such application where users can enter the values of some factors and then obtain the value of the innovative potential based on these factors. Thus, the research results are practically significant for the government because they are intended to show how to use the regions’ resources correctly to achieve maximum innovative growth. To develop such application, the topic of the innovative capability of the 85 Russian subjects and several methods for assessing innovative potential were studied in detail. As a result, the method of econometric modeling was chosen for conducting research. This paper explores research articles to select the factors that have the greatest impact on the innovative potential. Some of these variables were added to the spatial autoregression models, which were used in the application.