Investing in scientific research and scientific research institutions is a key factor in the economic, social and overall development of society. In a globalized environment, the transition countries such as Bosnia and Herzegovina face numerous challenges of competitiveness in the ideological, doctrinal, economic and scientific research area. In the absence of a vision that the addressed problems can be solved successfully solely on the basis of long-term formulated sophisticated strategies of economic, social and social performance are worryingly atrophic. Without the vision that the addressed problems can be successfully resolved not only on the basis of long-formulated sophisticated strategies, economic and social performances are becoming increasingly atrophic. Due to the absence of critical mass of resources, such circumstances point to the inevitability of changing the access to the role of knowledge, in particular scientific research, in social and economic development. Bosnia and Herzegovina, as a country in transition, is faced with an absolute disregard for the importance and necessity of investing in scientific research activity. Without investing in science, one cannot expect a satisfactory level of competitiveness on the global level and ensuring sustainable development. One of the five goals of the Europe 2020 strategy is to raise the percentage of investment in research and development to 3 percent of GDP by 2020, whereas BiH allocates only 0.03% of GDP for research and development, which represents a significant indicator of the neglect of investment in this activity. This research will analyze the scope and structure of investments in scientific research work with the aim of formulating the proposal of a new model of financing investments in the development of scientific research ideas and projects that will contribute to the improvement of economic and social reality in Bosnia and Herzegovina and Republic of Srpska.

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