Innovation microsystem is a novel organizational arrangement designed for regulation of innovation activity. Innovation microsystem itself, in its essence, is a kind of organizational and management innovation embodying a number of parts relating to the novel organizational structures as well as methods of management. The novelty that is peculiar to organizational and management innovation produces several challenges for the research of innovation microsystems which are addressed in this article. The authors, starting with clarifying the principles of the research of innovation activity in the region, consider the important facets related to the study of innovation microsystems as economic phenomena and management arrangement for regulation of the innovation activity. The peculiarities of innovation systems of the era of industrial revolution which enabled the link of the science and production, the modern concept of the system of innovation, the building, non-spatial facets of localization are approached in the context of the task of the study of innovation microsystems stemming out of the given principles. The approach developed in the article is designed for facilitating the research of innovation microsystems as a part of regulation of innovation activity in the region
Keywords: innovation systems, organizational and management innovations, innovation microsystem, regional innovation system, regulation of innovative activity
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