ABSTRACT
This chapter contains definition and analysis of the main problems hampering the development of small innovation business in Russia. One of the ways of innovation activity development is the development of start-ups. Import substitution policy, which is being realized in Russia, gives a good chance for new business development. Russian economic literature offers multiple approaches to define start-ups. A start-up is a company, which is only planned to be created, or a just created company in the stage of growth and development of its abilities, whose business is based on either new innovative ideas or the just appeared technologies. Only active and mutually beneficial cooperation of the participants in all sectors and their effective management and coordination can provide a breakthrough in the development of start-ups. The chapter concludes that the existing system of start-ups development in Russia does not allow creation of synergy effect in realization of innovation policy.
