Introduction. The most important part of the strategy of innovative development of the economy today is the development of mechanisms for funding innovation. The Russian specificity causes close attention to the analysis of the problems of financing innovative activity, since the success of innovation activity largely depends on financial support. Theoretical analysis. Analysis of modern forms, methods, ways of financing Russian innovative enterprises reveals a structural disproportion between sources of innovation financing, a high share of the public sector, insufficient development of the venture capital and private investment market, weak development of long-term instruments of investing the stock market as a source of financing innovative projects and lack of incentives to invest private invest in innovation because of the high inherent risks of innovation and availability other areas for more profitable capital allocation. Empirical аnalysis. The article analyzes the dynamics of the indicators of innovation financing at the macrolevel over the past 20 years, provides a description of the main indicators of innovation activity in the Republic of Tatarstan, the Kirov Region, the Saratov Region, the Perm Region and the Penza Region, and analyzes the financial results of innovative enterprises in these regions and their structure of assets and liabilities. Results. The main source of funding for innovative businesses, confirming national trends, there is equity, which is an average of 44% of the liabilities of innovative enterprises. Bank loans and the possibility of project financing innovative projects remain inaccessible to most enterprises.