The challenge of diversifying Russia’s economic structure and reducing its reliance on natural resource sectors has loomed large on the policy agenda for well over a decade. Even during the boom years before 2008, there was widespread awareness that growth was being driven by transitory factors and that steps were needed to facilitate Russia’s transition into self-sustaining, investment- and innovation-led growth. Since late 2008, the global financial and economic crisis has underscored the importance of this challenge. Attention has therefore increasingly focused on modernisation and, in particular, on innovation, as the keys to Russia’s successful development over the long term.