Development of Small and Medium-Sized Businesses Through Technology Transfer, Innovation Strategy and Network

¹ Kadyrov Chechen State University, Sheripova Street, 32, 364024, Grozny, Russia
² Institute of Service and Entrepreneurship (branch) of Don State Technical University, Shevchenko Str., 147, 346500, Shakhty, Russia
³ Don State Technical University, Gagarin Square, 1, 344002, Rostov on Don, Russia

^* Corresponding author: yandarbaeva@mail.ru

Abstract

In this article, the authors have identified the process of technology transfer development, identified the most promising areas for the development of small and medium-sized innovative businesses. In recent years, understanding the combination of technology transfer and innovation strategy has become a key element in ensuring the development and growth of SMEs, as it has expanded their opportunities to be part of networks and facilitated their access to international markets. The authors of the article examined the basic concepts on this topic, analyzed the experience of foreign countries in terms of technology transfer, and also revealed the main problems that are an obstacle to the implementation of an innovation strategy. It is concluded that without effective cooperation and the formation of an innovative infrastructure supporting small and medium-sized enterprises, the activation of the technology transfer process is impossible, and small and medium-sized enterprises can balance their limited resources with careful participation in networks.