The extractive industries today make up as much as a third of the Russian Far Eastern Federal Districts economy, this being not only greater than the figure for neighbouring countries, but two and a half times above the Russian average. In view of this, accelerated development in the innovation sector is particularly important, both in terms of diversifying the regional economy and with respect to improving efficiency in the extractive sector during a period of low raw material prices. Despite Russia investing adequately in research and development, on a par with the UK, Canada and Norway in this respect, the range of innovative technologies on offer to businesses lags considerably behind that typical in developed economies. Developing the innovation sector in the Far Eastern Federal District will require a substantial increase in the supply of innovative technologies via three key channels: R&D localization on the part of major Asia-Pacific markets, growth in the number of innovative small and medium-sized enterprises, and an increase in the innovative activities of large companies in the region. How can the quantity and quality of commercial innovations carried out in the Far Eastern Federal District be increased? What practical steps and «quick wins» should be prioritized? What economic and regulatory incentives need to be created? What is the critical bottleneck in the Far Eastern Federal Districts innovation infrastructure? Which sectors should serve as priority areas of focus?