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.