The fi nancial and economic crisis of 2008-2009 was the fi rst call, which was to make the Russian society to focus on important issues, one of which is the quality of education as a basis for creating and sustaining an innovation ecosystem. Investment in education and the development of the necessary competencies are crucial in improving the competitiveness of the country: these are the competences of graduates that determine the potential productivity of the territory. Russia is facing the challenge of creating the type of economy that would enable attracting highly educated and skilled workers. This initiative is refl ected in the federal document-the Conceptual of the Federal Action Programme for the Development of Education for 2016-2020 [1], which determines the quality and competitiveness of the Russian education as the prerogative of the state policy. The paper describes the current state of the educational market on the territory of the Bologna process members. It provides a comparative analysis of the effectiveness of the system of higher education in Russia with countries leading in the Global Innovation Index. The authors determined the range of problems associated with the 'insufficient effectiveness' of the educational system in Russia. Moreover, the authors proposed the view for establishing the policy aiming at development of innovative ecosystem.
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