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Abstract-Modern research, devoted to the transition of the Russian economy, to an innovative path of development, lacks the theoretical elaboration on the problems of formation of tools and mechanisms to improve management of modern innovationoriented corporations based on new methodologies and methods. The article offers a scientific and methodological approach to assessing the efficiency of innovative projects which develops and supplements the theoretical bases of innovative projects analysis through the accounting of recursive dependence of investments on such factors of innovative process as (1) the constructive complexity of the product, (2) the number of stages of the innovative process and (3) the innovative capacity of the enterprise. It is also proposed to introduce an adjustment factor (multiplier) to reflect the causal connection between the net present value of innovative projects and the abovementioned factors of innovative process and to improve the accuracy of calculation of cash flows under the project, linking the assessments with the certain stages of the project and the corporate capacity. This will reduce the overall integral risk of project implementation for potential investors.

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In recent years, there are more and more research and educational initiatives on the topic of regional innovation development. A similar initiative is the result of reflection mechanisms and possible outcomes of the integration processes that are gaining momentum in the modern economy. One of the «answers» to integration challenges is the creation of regional clusters and the development of regional cluster policy. The problem is to find answers to new, specific questions concerning the composition, characteristics and parameters of potential participants in regional clusters, the initial conditions and mechanisms for building clusters, creating cluster management systems: what is the role of universities in regional clusters, what is the model of this University, what is the program of its transformation, which University can correspond to this role. In the context of global changes in the system of higher education, universities themselves, we propose to rethink the role of universities in the modern world, the territory where it is located, its development and related changes in the purpose and functions of modern universities. We believe that the active involvement of universities in the formation of a regional innovation ecosystem, training is extremely important for the implementation of their third mission – to act as a driver of regional development, to take a subjective position in the region. Such challenges as globalization and massification of higher education, migration of talented students, the lack of strong research centers focused on the regional research agenda, the concentration of master's degree in urban agglomerations, the lack of drivers of positive changes in the urban and regional environment can lead to the fact that the University will lose its region of activity and its students. In our paper we propose a model of creating a sustainable chain of reproduction of personnel and technology in the region and on this basis the organization of production of high-tech products in the format of startups. The conceptual basis of such a model can be the unification of science, business, education into a unified integrated complexes in the form of innovative regional development clusters. Partnership between universities, business, government and other educational and scientific organizations will contribute to the quality of training for the innovative economy of the countries.