Cluster approach as the innovative model for the development of the regional economy (on the example of the Volgograd region)

Investment and innovation activity is one of the factors in the development of the region, and also contributes to the increase of economic and social potential. To maintain the competitiveness, adapt to changing conditions of the external and internal environment, as well as for the sustainable development of the region, it is necessary to form new achievements of science and technology. In this regard, the innovation activity and innovation policy of the region have the decisive importance. The actual problem is the transition of the country's economy to the innovative development. To solve this problem, it is necessary to develop methods that will restructure all spheres of social relations. The innovative model of economic development requires the formation of the effective transformation of new scientific achievements into new technologies, goods, services in the country and in the regions. They will have their real consumers in the market through the cluster approach.

Abstract licence: CC BY

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