The panelists including Artyom Shadrin, Director of the Department of Strategic Projects and Innovations of the Russian Ministry of Economic Development; Ekaterina Babeliuk, Vice-rector of Saint-Petersburg State University; Mikhail Filonov, Vice-rector of National University of Technology and Science MISiS; Alexander Popov, Baltic State University; Richard Burger, Research & Innovation Counsellor, Delegation of the European Union to the RF; Ivan Glushkov, Deputy General Director, Stada CIS; Emanuele Volpe, Innovations Manager, Enel Russia and Galina Burova, General Manager of Nokia Training Centre, discussed prospects and barriers to cooperation between academia and businesses, mutual expectations and necessary support measures as well as the role of such cooperation in developing innovations in Russia.