Abstract
At the present time innovation activity plays a key role in the economic development of countries and regions. Innovation clusters are important instrument of regional innovation development because they unite different organizations, located in the territory of concrete region on the terms of combination of subordination of its members to common goals and objectives with their economic independence, which fosters the complementarity of their functions, resources and possibilities and distribution of independently generated knowledge. At the same time, innovation activity is associated with high uncertainty and risk because of uncertainty in process of making of innovation product and uncertainty in process of entry it into the market. The article focuses its attention on the term “regional innovation cluster” from a perspective of risks associated with innovation activity. The processes of technology transfer between organizations members as the main instrument of functioning of regional innovation cluster are researched.
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