diff --git a/gruntfile.js b/gruntfile.js
index ed422ad1d..f282220bb 100644
--- a/gruntfile.js
+++ b/gruntfile.js
@@ -90,7 +90,7 @@ module.exports = function(grunt)
                 src: 'dist/test',
                 options: {
                     mask: '*.js',
-                    timeout: 4000
+                    timeout: 10000
                 }
             }
         }
@@ -120,7 +120,13 @@ module.exports = function(grunt)
             target: 'ES5',
             module: 'CommonJS',
             experimentalDecorators: true,
-            jsx: 'react'
+            jsx: 'react',
+            lib: [
+                "lib.dom.d.ts",
+                "lib.es5.d.ts",
+                "lib.es2015.iterable.d.ts",
+                "lib.es2015.collection.d.ts"
+            ],
         });
 
         FS.readdirSync(Path.join(base)).forEach(function(directory) {
diff --git a/package.json b/package.json
index 5bc8c3658..b634d5b82 100644
--- a/package.json
+++ b/package.json
@@ -46,7 +46,7 @@
     "progress": "^2.0.0",
     "shelljs": "^0.7.0",
     "typedoc-default-themes": "^0.5.0",
-    "typescript": "2.3.4"
+    "typescript": "2.4.1"
   },
   "devDependencies": {
     "@types/mocha": "^2.2.39",
@@ -71,7 +71,7 @@
     "LICENSE"
   ],
   "scripts": {
-    "test": "mocha -t 4000 dist/test",
+    "test": "mocha -t 10000 dist/test",
     "build": "grunt build_and_test",
     "prepublish": "npm run build"
   },
diff --git a/src/lib/converter/converter.ts b/src/lib/converter/converter.ts
index 847a6ce0d..6eb114d2d 100644
--- a/src/lib/converter/converter.ts
+++ b/src/lib/converter/converter.ts
@@ -184,12 +184,12 @@ export class Converter extends ChildableComponent<Application, ConverterComponen
         this.typeNodeConverters = [];
     }
 
-    addComponent(name: string, componentClass: ComponentClass<ConverterComponent>): ConverterComponent {
+    addComponent<T extends ConverterComponent & Component>(name: string, componentClass: T | ComponentClass<T>): T {
         const component = super.addComponent(name, componentClass);
         if (component instanceof ConverterNodeComponent) {
             this.addNodeConverter(component);
         } else if (component instanceof ConverterTypeComponent) {
-            this.addTypeConverter(<TypeTypeConverter<any>|TypeNodeConverter<any, any>> component);
+            this.addTypeConverter(component);
         }
 
         return component;
@@ -201,7 +201,7 @@ export class Converter extends ChildableComponent<Application, ConverterComponen
         }
     }
 
-    private addTypeConverter(converter: TypeTypeConverter<any>|TypeNodeConverter<any, any>) {
+    private addTypeConverter(converter: ConverterTypeComponent) {
         if ('supportsNode' in converter && 'convertNode' in converter) {
             this.typeNodeConverters.push(<TypeNodeConverter<any, any>> converter);
             this.typeNodeConverters.sort((a, b) => (b.priority || 0) - (a.priority || 0));
diff --git a/src/lib/converter/types/string-literal.ts b/src/lib/converter/types/string-literal.ts
index 4a18c4dfe..94301d69a 100644
--- a/src/lib/converter/types/string-literal.ts
+++ b/src/lib/converter/types/string-literal.ts
@@ -49,6 +49,6 @@ export class StringLiteralConverter extends ConverterTypeComponent implements Ty
      * @returns The type reflection representing the given string literal type.
      */
     convertType(context: Context, type: ts.LiteralType): Type {
-        return new StringLiteralType(type.text);
+        return new StringLiteralType(<string> type.value);
     }
 }
diff --git a/src/lib/utils/component.ts b/src/lib/utils/component.ts
index d5f46a001..982a608c9 100644
--- a/src/lib/utils/component.ts
+++ b/src/lib/utils/component.ts
@@ -25,7 +25,7 @@ export interface ComponentOptions {
 const childMappings: {host: any, child: Function}[] = [];
 
 export function Component(options: ComponentOptions): ClassDecorator {
-    return (target: ComponentClass<Component>) => {
+    return (target: Function) => {
         const proto = target.prototype;
         if (!(proto instanceof AbstractComponent)) {
             throw new Error('The `Component` decorator can only be used with a subclass of `AbstractComponent`.');
diff --git a/src/test/converter/decorators/decorators.ts b/src/test/converter/decorators/decorators.ts
index 432064088..4c6c43abc 100644
--- a/src/test/converter/decorators/decorators.ts
+++ b/src/test/converter/decorators/decorators.ts
@@ -41,8 +41,8 @@ function decoratorWithParam(value:boolean):MethodDecorator {
  * @param options  The options object of this decorator.
  * @param options.name  A property on the options object of this decorator.
  */
-function decoratorWithOptions(options:{name:string}):ClassDecorator {
+function decoratorWithOptions(options:{name:string}): ClassDecorator {
     return function (target) {
-        target.options = options;
-    }
+        (target as any).options = options;
+    };
 }
diff --git a/src/test/converter/react/react.d.ts b/src/test/converter/react/react.d.ts
index 1d29e4fe0..5bf24b31d 100644
--- a/src/test/converter/react/react.d.ts
+++ b/src/test/converter/react/react.d.ts
@@ -131,7 +131,7 @@ declare namespace __React {
     // ----------------------------------------------------------------------
 
     // Base component for plain JS classes
-    class Component<P, S> implements ComponentLifecycle<P, S> {
+    class Component<P, S> {
         constructor(props?: P, context?: any);
         setState(f: (prevState: S, props: P) => S, callback?: () => any): void;
         setState(state: S, callback?: () => any): void;
@@ -932,7 +932,7 @@ declare module "react/addons" {
     // ----------------------------------------------------------------------
 
     // Base component for plain JS classes
-    class Component<P, S> implements ComponentLifecycle<P, S> {
+    class Component<P, S> {
         constructor(props?: P, context?: any);
         setState(f: (prevState: S, props: P) => S, callback?: () => any): void;
         setState(state: S, callback?: () => any): void;
diff --git a/src/test/converter/react/specs.json b/src/test/converter/react/specs.json
index b9b9cf795..2eaddf5cb 100644
--- a/src/test/converter/react/specs.json
+++ b/src/test/converter/react/specs.json
@@ -603,23 +603,6 @@
                 }
               ]
             }
-          ],
-          "implementedTypes": [
-            {
-              "type": "reference",
-              "name": "ComponentLifecycle",
-              "typeArguments": [
-                {
-                  "type": "reference",
-                  "name": "DemoProps",
-                  "id": 2
-                },
-                {
-                  "type": "intrinsic",
-                  "name": "any"
-                }
-              ]
-            }
           ]
         },
         {
diff --git a/tsconfig.json b/tsconfig.json
index a4dc524e3..7067e0c6d 100644
--- a/tsconfig.json
+++ b/tsconfig.json
@@ -7,7 +7,7 @@
       "es2015.collection",
       "es2015.iterable"
     ],
-    "target": "ES5",
+    "target": "es5",
     "noImplicitAny": false,
     "removeComments": true,
     "noUnusedLocals": true,