Innovation Potential of the Murmansk Region

Abstract

The Finnish-Russian trade relations regardless of the geographical proximity remain underdeveloped. The objective necessity to disseminate information about economic attractiveness and innovation potential of the Murmansk region in the Finnish business environment emanates from the above said. Thus, the object of the thesis project is the cross-boarder economic cooperation between Finnish Lapland and the Murmansk region, the topic being the innovational potential of the Murmansk region. The aim of the thesis project is to evaluate the innovational potential of the Murmansk region and to identify business opportunities for Finnish enterprises on the Kola Peninsula.

The multidimensionality of the innovation concept preconditions the choice of the pragmatic philosophical perspective that allows using all approaches available to understand the research problem. Pragmatic orientation underpins the choice of the sequential research methodology.

The main outcomes are boiled down to four main conclusions. First, the concept of innovation is perceived and consequently understood differently in Finland and Russia - the Finnish scholars following the European scientific tradition interpret innovation as a process that includes the phases of idea generation, development and commercialization. The Russian business society differentiates between innovation and innovation process and defines the former as a final product. Second, the entrepreneurs of both Finnish Lapland and the Murmansk region agree that the Murmansk region possesses high innovational potential ensuring vast business opportunities. However, the opinions differ concerning the innovational potential of the specific industries. Third, though the Murmansk region possesses high innovational potential, the Lappish entrepreneurs are not motivated to exploit its business opportunities as the Lappish economy is experiencing substantial growth ensuring opportunities in the local market. Forth, to develop its innovational potential the Murmansk region needs multinational companies that can introduce new technology and know-how in financing and marketing opening at the same time international markets for the new products.