The system of tools for assessing innovation activity should include an indicator of risk accounting. Risk is present in any type of business activity, as it is an integral part of the execution of any economic decision and manifests itself in connection with the uncertainty that is present in any business activity. Conducting innovative activities is more associated with risks than other areas of entrepreneurial activity. Therefore, one of the most important tasks for any enterprise conducting innovative activities is the development of a competent risk management strategy. Risk management in the conduct of innovation is most often under- stood as a set of practical measures and developments that can reduce the uncertainty of the result of innovation, which will increase the usefulness of the implementation of innovation, as well as reduce costs. The article analyzes the state of innovation activity in Russia, presents key market indicators. The main risks arising from the conduct of innovative activities are analyzed. The methodology for assessing risks by government agencies to take them into account when providing financial support measures is considered.