This article presents the results of the statistical study aimed at finding the factors which have influence on innovative development in regions of Russian Federation. In the first stage, the concepts of innovations and innovative development, as well as their role in the modern economy were defined. In the next stage, the factors which may influence the volume of innovative products, works and services were chosen. The article substantiates the choice of the factors. In the course of the study, data (population rate, amount of innovative products, internal state investments in scientific research, etc.) was collected from the official web page of the Federal State Statistics Service about 79 regions in accordance to 8 chosen factors, the data was analyzed and conclusions were drawn. The data has been converted from absolute to relative values in Microsoft Excel, and then the factors were checked for multicollinearity. To analyze the sample figures that are examined in the research we have used a fully integrated line of analytic solutions Statistica, designed for analyzing, visualizing and forecasting. As a result of a statistical analysis and using the Statistica software, linear and non-linear regression models have been built and conclusions have been made on the linear one. Thus two key factors (internal state investments in scientific research and the expenses of commercial organizations on R&D) were chosen and analytical conclusions were made based on the study results. Therefore, these two factors, included in the final equation, were taken as the most influential factors of innovative development. It can be concluded that according to the model, investments in the innovation sphere should be spread correctly over the regions of the Russian Federation.