One of the most important conditions of existing and developing innovation economy is the mature and stable institutional environment. This institutional environment provides interaction between innovation economy subjects in the conditions of intensive technological changes. At the same time, old institutions begun to modernize intensively under the influence of new economic targets. This article describes institutional foundation of innovation economy. These foundations include institutions of R&D organization, institutions of material innovation realization, institutions of marketing innovation, institutions of innovation economy financing, and institutional foundations of SME status in R&D. Organization of R&D institutions continually provides generation of knowledge and inventions in the sphere of fundamental science. Intellectual property institutes specify property rights on scientific inventions, minimize transaction costs, and redistribute profits from commercialisation of inventions. Intellectual capital production institutes create conditions for transformation of human intellectual potential in real capital by continual acquisition, generation and transferring its knowledge and skills. Organization of innovation business institutes based on companys joint-stock property rules establishes clear professional information about financial activities of a company, perfects financial managers decisions control, and allows forecasting production activities of a company. Innovation economy financial institutes create conditions for predicted and ordered interaction of public and private sector in the sphere of innovation financing that lead to corruption decline, and minimizing of research partners costs and deal conclusion. Venture business institute forms a system of tax privileges and preferences for innovators. The abovementioned institutions are, on the one hand, single institutions, but, on the other hand, these are institutions area for venture business financing. Venture business financing mechanism is a very important element of innovation economy. Institutes, which determine functioning of venture financing mechanism, also have formal and informal rules. Established by officials, formal rules include stock capital rules, established standards of venture business estimation, official law regarding participating of large investors capital in venture financing, corporate governance, which protects investors rights, and official laws concerning functioning capital market for venture business financing.

Дается краткая характеристика институциональных основ инновационной экономики, которые, с одной стороны, являются самостоятельными институтами, определяющими стимулы и направления взаимодействия целого ряда агентов инновационной экономики, а с другой представляют собой институциональную среду для функционирования механизма венчурного финансирования.