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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">guuvest</journal-id><journal-title-group><journal-title xml:lang="ru">Вестник университета</journal-title><trans-title-group xml:lang="en"><trans-title>Vestnik Universiteta</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">1816-4277</issn><issn pub-type="epub">2686-8415</issn><publisher><publisher-name>State University of Management</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.26425/1816-4277-2021-5-153-161</article-id><article-id custom-type="elpub" pub-id-type="custom">guuvest-2885</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ОЦЕНКА ИНВЕСТИЦИЙ</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>INVESTMENT VALUATION</subject></subj-group></article-categories><title-group><article-title>Инвестиции в инновации социально-технологических предприятий</article-title><trans-title-group xml:lang="en"><trans-title>Investments in innovations of social and technological enterprises</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-6342-3076</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Герасимов</surname><given-names>К. Б.</given-names></name><name name-style="western" xml:lang="en"><surname>Gerasimov</surname><given-names>K. B.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Герасимов Кирилл Борисович - доктор экономических наук.</p><p>Самара.</p></bio><bio xml:lang="en"><p>Kirill B. Gerasimov - Dr. Sci. (Econ.), Samara National Research University.</p><p>Samara.</p></bio><email xlink:type="simple">270580@bk.ru</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Самарский национальный исследовательский университет имени академика С.П. Королёва</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Samara National Research University</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2021</year></pub-date><pub-date pub-type="epub"><day>06</day><month>07</month><year>2021</year></pub-date><volume>0</volume><issue>5</issue><fpage>153</fpage><lpage>161</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Герасимов К.Б., 2021</copyright-statement><copyright-year>2021</copyright-year><copyright-holder xml:lang="ru">Герасимов К.Б.</copyright-holder><copyright-holder xml:lang="en">Gerasimov K.B.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://vestnik.guu.ru/jour/article/view/2885">https://vestnik.guu.ru/jour/article/view/2885</self-uri><abstract><p>В современной литературе широко рассматривается процесс технологических инноваций и результаты деятельности организаций, ориентированных на рынок. Тем не менее, исследования процесса технологических инноваций и результатов социально-технологических предприятий, которые формируются для создания социальной ценности с помощью использования технологий, отсутствуют. В работе представлена концептуальная модель того, как инвестиции социально-технологических предприятий в технологические инновации, реализованные в процессе внедрения инноваций, влияют на их рыночную и социальную стратегическую ориентацию. Эти инвестиции в инновации рассматриваются на четырех уровнях анализа: учредители, инновации, организация и внешняя среда. Представленная модель и предложения продвигают и обогащают современные литературные источники относительно факторов, влияющих на баланс стратегической ориентации социально-технологических предприятий между социальной и рыночной ориентацией. </p></abstract><trans-abstract xml:lang="en"><p>The modern literature extensively considers the process of technological innovations and the results of the activities of market-oriented organizations. However, there are no studies of the process of technological innovations and the results of socio-technological enterprises that are formed to create social value through the use of technologies. The paper presents a conceptual model of how the investments of socio-technological enterprises in technological innovations implemented in the process of innovation implementation affect their market and social strategic orientation. The author considers these investments in innovations at four levels of analysis: founders, innovations, organization, and the external environment. The presented model and proposals promote and enrich the current literary sources regarding the factors that affect the balance of the strategic orientation of socio-technological enterprises between the social and market orientation.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>инновации</kwd><kwd>социально-технологическое предприятия</kwd><kwd>стратегическая ориентация</kwd><kwd>учредитель</kwd><kwd>организация</kwd><kwd>внешняя среда</kwd><kwd>предпринимательство</kwd></kwd-group><kwd-group xml:lang="en"><kwd>innovations</kwd><kwd>social and technological enterprises</kwd><kwd>strategic orientation</kwd><kwd>founder</kwd><kwd>organization</kwd><kwd>external environment</kwd><kwd>entrepreneurship</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Аверина, Т. А. и др. Технологическое предпринимательство. Движение вперед - рост и развитие: учебник / под общ. ред. С. 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