Critical Success Factors of Innovative Lithuanian Life Sciences Startups

The purpose of this thesis
is to identify the critical success factors of innovative Lithuanian life
sciences start-ups that drives them to commercial success. Literature review
identified factors that are critical to the success of technology (or
knowledge) intensive start-ups in various ecosystems throughout the World,
although there was no specific research made on start-ups’ critical success
factors in the field of life sciences. Qualitative research was used to collect
empirical data about innovative Lithuanian life sciences start-ups, which are
developing new technologies, products or services, generating revenue, have
more than one employee and are not experiencing any major financial
difficulties. The findings of the research revealed that Lithuanian life
sciences start-ups correspond to the global tendencies and same factors affect
their operations as any other technology (or knowledge) intensive start-up,
however start-ups are heavily dependent on the national and European Union
funding opportunities.