Sverdlovsk Region: Businesses Cut Innovation Budgets by RUB 5bn

UrBC, Yekaterinburg, September 16, 2019. Sverdlovsk Region-based companies cut their innovation budgets by RUB 5.158,2bn in 2018 against the year 2017, Sverdlovskstat reports.

Last year, businesses’ innovation-related costs amounted to RUB 39.880,5bn, including RUB 39.781,2bn directed to tech innovations, RUB 4.5m directed to marketing innovations, and RUB 94.8m directed to organizational innovations.

The share of innovative products, work, and services only amounted to 6.9% of the overall amount of their produce/work/services last year, which was the four-year low since 2015. In 2017, the percentage was 10.3%.


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