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EUROPEAN BIOECONOMY POLICY AND NEW OPPORTUNITIES FOR BIO-BASED BUSINESS DEVELOPMENT
Abstract
This paper aims to investigate the European bioeconomy policy and bio-based business development in Latvia both from the perspective of existing business practices as well from the perspective of students? attitudes towards setting up new businesses in view of the bioeconomic challenges. The research was based on the theoretical concepts of bioeconomics and a bioeconomy, collected examples of bioeconomic business practices in Latvia, as well as the data gained from an interview of Latvia University of Life Sciences and Technologies students? (n=181). The results of the research indicated that the bioeconomy business activities in Latvia led to positive results, as there were the necessary preconditions for their development. Our findings contribute to research on the understanding of bioeconomics and bioeconomy. Unlike other research studies, this is a specific research study that provides insights into the situation in Latvia on the possibilities of development of bio-based business which is closely linked to the circular economy in order to ensure the sustainable production.
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