Abstract

This article analyses the innovation system of Lithuania. It discusses the essence of innovation, the process of innovation development and components of innovation system, innovation system of Lithuania and forms of support for innovations. Situation of Lithuania is analyzed towards summary innovation index and global innovation index. Made research and comparative analysis reveals the situation of innovation development in Lithuanian companies. The paper provides the conclusions about innovation system of Lithuania and suggestions how this scope could be improved. KEY WORDS: innovation, support for innovations, innovation index.

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