This study deals with the features of using the potential of innovative small and medium-sized enterprises (SME) for the development of the space industry in Russia. The task of increasing the adaptive properties of the Russian space industry, its ability to internal change and greater openness, is particularly crucial in the context of new challenges. This study emphasizes the special importance of private investment for the Russian space industry development and commercialization of space activities in connection with its enormous economic potential. Large scientific enterprises prevail in the Russian market, they have complex innovation management system and are often oriented towards large projects. Due to this reason, the number of innovations in these structures is not as great as in small and medium-sized enterprises. We analyzed the activities of small and medium-sized innovative enterprises in Russia and concluded that these enterprises are almost not involved in the space industry. However, the possibilities of innovative SMEs in the space industry are great, since such enterprises can create projects in the field of communications, data transmission, digital solutions for data processing, the creation of on-board systems, technical solutions for the “Moon Village” creation and others. We consider the barriers that prevent such enterprises from entering the space industry, for example, such as the need for licensing, the high cost and long-term return of startups, etc. One of the main problems for small and medium-sized innovative enterprises in the space industry in Russia is the lack of material and resource support for the creation and implementation of their innovative projects. This study included conducting research of different possibilities of the resource support tools for innovative SMEs in the space industry, which are divided into three mechanisms: direct public support, non-government funding, incentive programs for investors and small innovative enterprises. The study of the experiences of various countries in attracting private companies to the space industry provided a basis for formulating a set of proposals for improving the use of resource support tools for small and medium-sized innovative enterprises for the development of the space industry in Russia.