The University of Tartu (est. 1632) is the largest higher education and research centre in Estonia. The academic staff of the University amounts to 1700.
The Faculty of Economics and Business Administration (FEBA) has 18 professors, over 700 BA, 700 MA students and ca 70 PhD students. One of the main research areas of FEBA since 2008 is the path dependent model of the innovation system: development and implementation in the case of a small country.