Research background: The paper presents literature analysis and review on the considered problem. Purpose of the article: This paper is devoted to researching the effect a phase of the long wave has on technological development commercialization (TDC) in Russia taking into account the trend which has been found for tuning a public-private partnership institution into the triple helix mechanism. Methods: The modern phase of the long wave has been assessed empirically and statistically. The study is based on previously achieved empirical results (by some authors) in studying propensity of economic agents in Russia to introduce basic innovations and the TDC. Authors used general scientific methods of analysis and synthesis. Findings & Value added: In the phase of the global long wave recession, the national innovation system formed in Russia turned out to be an organizational and institutional innovation timely arranged. Nevertheless, institutional barriers have remained for the TDC. The program of implementing the scientific and technological priorities in Russia is rather scarcely effective because of institutional factors. Under the current conditions of the global long wave depression, which began in 2020 and, according to our estimates, is to last until 2025, it seems essential to provide a set of such institutional arrangements as organizational, motivational, and coordinating ones that would contribute to the development of public-private partnership instruments and the triple helix. In modern condition it includes such instruments of TDC as development of competence-centers, Foresight, promotion for Startups and so on.