Emerging Tech

Business Clusters And The Potential Of The Biotechnology Sector In Lithuania

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Executive Summary

What are the unique circumstances that allow innovations in an economy to take hold and mature into productive business sectors? The authors pose the given question in the discussion of the uncommonly favorable circumstances surrounding the biotechnology sector in Lithuania. The purpose of this paper is to analyze Lithuania's ability to expand its economy during a time of crisis, focusing on its unique ability to innovate in such sectors as biotechnology. The primary hypothesis is as follows: Lithuanian biotechnology sector is expanding because business clusters have been established.

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