Methodological Approach to Assessing Innovative Regional Economic Development Based on Venture Financing under Conditions of Digitalization and Risk Management

Abstract

This paper develops a methodological approach to assessing the innovative development of regional economies under the conditions of digital transformation and the increasing role of venture financing in ensuring sustainable territorial economic growth. It is substantiated that the existing methodologies for assessing regional innovative development are primarily focused on analyzing individual socio-economic, innovation, or investment indicators and fail to account for the integrated impact of venture infrastructure, digitalization, and risk-oriented management on the effectiveness of regional development. The study analyses contemporary Russian and international approaches to assessing regional innovation performance, identifying their key advantages and methodological limitations. Based on the findings, the authors propose a methodological framework founded on the comprehensive assessment of five interrelated subsystems of the regional economy: innovation potential, venture capital infrastructure, digital maturity, investment attractiveness, and the regional risk management system. The scientific novelty of the research lies in the development of an integrated methodology for assessing the innovative development of a region, enabling the determination of the regional economy's readiness to establish a sustainable innovation-driven development model. The practical significance of the proposed approach is associated with its applicability in designing regional socio-economic development strategies, evaluating the effectiveness of regional innovation policies, and improving mechanisms of public support for innovation activities.