Continuous innovation plays a central role in the future role of Lithuania’s economy and the country aspires to be the innovation centre of the North Baltic region. When promoting the creation and implementation of innovation, particular focus is placed on cooperation between business and science, protection of intellectual property, and clusterisation of innovative companies. In Lithuania, as elsewhere in the world, innovation is the key driver of economic growth enabling high added value to be created and ensuring economic development. The increasing innovativeness of the country’s companies improves Lithuania’s competitiveness not only on the domestic market but also in foreign markets.