Over the past few years Russia has enjoyed steady economic growth. However, the engines of growth remain over-concentrated in a handful of industries whose success depends mainly on the export of raw commodities. In order to achieve sustainable long-term growth, Russia needs to diversify its economic activities. Boosting innovation should be a central objective of a diversification strategy. Better connecting the strong Russian science base to market dynamics is the single most important way to accelerate the development of knowledge-intensive activities. Fostering Public-Private Partnership for Innovation in Russia assesses strengths and weaknesses of the Russian innovation system, with a focus on industry-science relationships. Based on an assessment of current policy initiatives, it formulates concrete policy recommendations to improve such relationships, especially through public-private partnerships