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One of the most pressing problems of the Russian economy is the insufficient realization of the country's potential in the development and implementation of innovations and in the production of innovative products increasing the competitiveness of Russian enterprises in the world market and, as a result, increasing the competitiveness of the Russian economy as a whole. An innovation cluster as the highest form of clustering based on the “triple helix” model as an interaction between the government, business and science, is able to stimulate economic growth and innovative development in Russia, primarily due to the initial focus on the production of an innovative product in parallel with scientific research and highly qualified personnel training. The purpose of this study is to determine the essence of the innovation cluster as a tool for the national economic development: to study cluster’s specifics, signs, factors influencing the formation of a cluster and the effectiveness of its functioning, to improve the algorithm for its formation, to identify the opportunities and risks faced by cluster’s subjects: the government, region, small and large business, research and educational organizations. The article analyzes the existing algorithms for the formation of an innovative cluster and proposes the author’s algorithm: the first and key stage in the formation of an innovative cluster is the designation of the purpose of cluster’s creation, and the cluster’s structure depends on what is the innovative task is needed to be solved in the field of industry, science or the public sector.
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