Financing of innovative activity as the factor of economic development of the state

Abstract

This article analyzes the financial support of innovation development of Kazakhstan at the present
stage. The necessity and essence of development of innovative activity in the country, in the context of economic
development is substantiated. The main types and sources of innovation financing are identified. A brief analysis of
the current situation in the innovation sector is provided. Innovative-active enterprises and their growth over the past
5 years were also considered. The volume of R&D expenses for the last 5 years has been analyzed. The structure of
internal costs for research and development in the Republic of Kazakhstan is analyzed. As a result of the research, the
main problems that prevent the development of financing of the Kazakhstan’s innovation sector are identified. And in
conclusion, to improve the state of innovation in the Republic of Kazakhstan, options for development are proposed.