One of the upcoming trends in the Chelyabinsk region economy is innovation activity.

The basic fields of innovation activity are electronics, nanotechnologies, mechanical engineering, technology of materials processing, optics, raw materials industry, medicine, power engineering, construction etc.

Since 2008 the second regional target program “Innovation activity development in the Chelyabinsk region” for 2008-2010 years is being realized.

By the end of 2008 within the program it is planned to create a Fund of assistance to the development of venture capital investments in scientific and technical spheres of the Chelyabinsk region, and an innovation business incubator in the city of Snezhinsk.

During Days of Small Business of South Urals in 2007, the third regional salon of innovations and investments was organized and held, at which 60 innovation companies and leading higher schools have presented 400 projects, 270 of which were development prototypes.

In 2007 the innovation projects of the Chelyabinsk region were awarded at the Russian and international exhibitions with 51 medals and 62 diplomas.