The conference „INOVATION DRIVEN ENTREPRENEURSHIP“ activity 1.7 Vilnius, Lithuania lasted from 14th till 16th October 2010. ISM University of Management and Economics Kaunas Lithuania is the predecessor of Business Training Centre, a well-known executive training institution. ISM has 2 research departments: Department of Intellectual Capital and Business Competence and Department of Organizational Economics and Strategy. ISM is actively involved and closely collaborates with a number of international associations such as CEEMAN, Baltic Sea Region University Network, EFMD, ETF, EBEN, PMA, European Association for International Education (EAIE). ISM is member of the Thematic Network in University Continuing Education and European University Lifelong Learning Network. The conference was held over two days. The focus of the conference is the relationship between innovation and entrepreneurship as innovation is a way to do something differently, less costly or better. Chairpersons of the conference were Marina Dabic, Prof.Dr. Faculty of Economics and Business, University of Zagreb, Croatia, Prof.Dr. Petras Baršauskas, ISM University of Mangement and Economics, Lithuania and Prof.Dr. Asta Pundziene, ISM University of Mangement and Economics, Lithuania. Eight parallel sections were held. First day there were four: Innovation and entrepreneurship in economic network, Innovation poles and entrepreneurial activity, HRM culture for entrepreneurial organization and Entrepreneurship creativity and education. The second day of the conference was also held through four parallel sections: Cases of entrepreneurship, Sustainable entrepreneurship, Innovation in social entrepreneurship and Ways to assure continuous innovation in entrepreneurship. Each section had two or three chairpersons.