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This paper aims to present a retrospective analysis of the experience gained in the course of 20 years’ history of S&T priority setting and critical technologies’ identification, in terms of expected and actually achieved effects and lessons learned.

The methodology is based on analysing project documentation and reports, as well as on interviewing project team members. Each project’s effects are evaluated in terms of the six key foresight functions.

The key factors affecting success of priority S&T areas and critical technologies’ selection and implementation have been identified. They include focusing on practical implementation, linking S&T with socio-economic goals, combining thematic priorities with infrastructural and functional ones, as well as integrating priority selection in the S&T policy process.

The task of evaluating priority setting exercises over a long period requires a substantial information base to provide a comprehensive comparative analysis. The projects considered in the paper also need to be analysed in a context of socio-economic development.

The lessons learned presented in the paper could contribute to further development of approaches to selecting science and technology priorities and critical technologies, and their more efficient implementation.

Priority setting has significant influence on policymaking and decision-making at the national and industry level. The evaluation of a unique 20-year experience provides substantial information and practical hints for further increasing efficacy of this instrument.

To define strategic directions for the Russia’s social, economic, scientific and technological development in 2011-2013, a large-scale foresight study including the deep analysis of prospects of biotechnology development there was undertaken (Russia 2030: Science and Technology Foresight). This paper aims to present results of this research.

The study was based on a combination of technology-push and market-pull approaches that aimed not only to identify most promising science and technology (S&T) areas but also to understand how they can be realized in practice. Representatives from federal authorities, science and business were involved in the project to create future visions of technological directions; analyze grand challenges, weak signals and wild cards; and set research and development (R&D) priorities.

According to results of the study, Russia has a potential for biotech sector development, although the level of R&D in the majority of areas is lagging behind that in the USA and leading EU countries. However, there are several advanced applied research areas where efforts can be focused. Among them are high-performance genomics and post-genomics research platforms, systems and structural biology, microbial metabolic engineering, plant biotechnology and microbial strains and consortia for development of symbiotic plant–microbial communities.

Concentration of available resources of government and business on biotechnological sector development can help to find answers for challenges that Russia faces today or will face tomorrow. It will help to pick up on the current level of research activities, improve the quality of personnel training, make this area the engine of the economy and carry out the so-called new industrialization of the country, building a new, high-tech device industry.