Innovation and Investment Activities in Businesses as a Determining Factor of Development of the Russian Federation

The relevance of the studied issue is caused by the fact that the modern system of institutes in business forms prerequisites for development of innovation and investment activities of firms. Along with heavy commitment to financial investments, the level of non-financial investments into research and development with their subsequent commercialization is insufficient in our country. Investment activity influences the economic growth rate, increases employment, profitability of households. This contribution is aimed at analysis of the existing system of institutes in business and also development of recommendations for optimization of these institutes in the course of innovative economic development of the Russian Federation. The main methods, implemented in the course of the research, are system analysis and scientific abstraction. They determine a possibility of identification of interrelations and interdependence of the following categories: knowledge, technologies, creation of an innovative product. These categories in the modern economy cannot be considered separately from a business institute. Results: the system analysis of innovative development of countries is carried out, and the place of Russia is defined. The level of society intellectualization is defined on the basis of indexes. It allows making recommendations for improvement of a measurement system aimed at formation of the modern economy of knowledge. It will result in changes in the institutional system: The main goal should be proper introduction of innovation and investment activities in entrepreneurship. The results of the scientific research can be applied to formation of programs of innovative development of business at the federal, regional, and local levels. It will allow optimizing the existing system of business institutes, which can become a decisive factor in innovative, social, and economic development of Russia.