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This article reveals that most of the indicators used to assess the results of innovation activities (special indexes) are based on structured groups of standard indicators of innovation activity (groups of indicators combining innovation factors, activities of firms and innovation results: EU, Russia), or a special index based on four groups of indicators (human capital, economic dynamics, productivity, employment, and welfare) with several indicators in each group (the USA). It is found that none of the systems, groups of indicators or indexes in essence measure the efficacy of development, but reflects only the results of monitoring the innovation activities. In this article we suggest using the indicator of innovating capital of a region as an indicator of efficacy of a region’s development, which is the value advanced into certain innovation-oriented resources of the region, which allow for the development and implementation of innovations. The structure of region’s innovating capital is determined, including human, intellectual, digital capital taking part in the innovation process in the region and patent capital. The place (locus) of innovating capital in the regional capital is determined. Innovating capital has to take its certain place in the regional capital combining both material and intangible resources and human resources, and judging by this very indicator one can say that a region possesses innovating capital

Innovating Capital of a Region as an Indicator of Innovation Development: Concept, Structure, Locus