Perspectives of Innovations, Economics and Business

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Volume 9
Issue 3
Online publication date 2011-11-01
Title Baltic and Asian tigers: The biotechnology sectors of Lithuania and India as sources of innovation and economic growth
Author Vincentas Rolandas Giedraitis, Ausra Rasteniene, Hariharan Rajanbabu
Abstract This paper explores similarities and differences between the biotechnology sectors of Lithuania and India. In both cases, the biotechnology sectors are major motors of economic growth.  In the case of Lithuania, we borrow from Schumpeter’s ideas of innovation and Porter’s business cluster theory, and argue that Lithuania is “at the right place and the right time” to make it a regional leader in Baltic biotechnology. Although very different, India’s biotechnology sector is also  rapidly changing and innovating. 
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Keywords Biotechnology, Lithuania, India, Schumpeter, business cluster theory, Kondratiev waves
DOI http://dx.doi.org/10.15208/pieb.2011.33
Pages 5-11
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