Sources of Financing High-Tech Projects

Abstract

This article is aimed at considering current sources of financing for high-tech projects. In the article, statistical data confirm the orientation of developed and developing countries' economies towards the generation of high-tech products by the dynamics of added value in high-tech and medium-high-tech industries, respectively - support for high-tech manufacturing enterprises and industries as a whole. Lists of high and medium-high-tech adopted sectors in the Russian Federation, in the United States, and in European nations, and a list of critical technologies are given. Special attention is given to the essence of the high-tech projects, concept, through the implementation of a rise in the share of high-tech products. The article identifies the main characteristics that distinguish a high-tech project from an innovative one. The dynamics of value-added in high-tech and medium-high-tech sectors of the economies of developing and developed countries are studied in conjunction with R & D spending in high-tech sectors of these countries. On the example of the United States (the global leader in the high-tech industry), the structure of financing high-tech projects carried out by companies at the expense of internal financing, that is, own funds is investigated. Based on the Russian Federation, the volumes of attracted cash in the form of grants and the amount of borrowed cash in the form of a subsidy for the implementation of high-tech projects in dynamics for 2012-2018 are investigated.