Innovation development in Lithuanian biotechnology sector

Abstract

This article presents definition of innovation and integration into Lithuanian biotechnology sector. Biotechnology sector in Lithuania started in the 20th century. The successful development of biotechnology sciences is attracting more and more interests from academic and business spheres. Huge investments and large number of scientific articles demonstrate this. Biotechnological inventions are widely applied in pharmaceuticals, chemistry, bioenergy and agriculture industries. This article analyzes classification of biotechnology their distribution and applicability. Presented statistics reflect both development of biotechnology in Lithuanian industry and integration into business sector and research and experimental development in Lithuanian. Innovations are closely linked to scientific development. Analyzed results show that in 2013–2017 biotechnology business was growing rapidly. More and more companies in Lithuania are allocating more funding for scientific development, innovating in their processes, thus improving their activities.