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Over the past two decades, biotechnology has provided a motor for environmentally sustainable production and for the development of a diverse range of innovative products. The potential economic and environmental benefits of biotechnology have created a growing strategic interest in bioeconomy. Bioeconomy combines highly research and knowledge intensive economic activities in agriculture, forestry and the food sector with the innovative use of renewable raw materials for material and energy use. This paper aims to study the potential for the further development of bio-based sectors in Latvia and main challenges the development of innovations in bioeconomy faces in Latvia and Baltic Sea Region countries. In this study, the authors have analyzed current situation in Latvia regarding bioeconomy development and have identified innovations fostering sustainable use of natural resources. The research finds out that bioeconomy innovations in the traditional biobased sectors such as agriculture, horticulture, forestry, fisheries, renewable energies, food and feed, pulp and paper, goes in line with the principles of sustainable development and thus it effects development of sustainable use of natural resources. This paper reviews the support systems for innovations in bioeconomy in EU and Latvia and studies the potential for the further development of bio-based sectors in Latvia. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

Although our daily life within a modern society is unimaginable without the use of information and communication technologies (ICT), the COVID-19 crisis really highlighted the ways we can maximise the use of digital technologies in optimising our work in distance working conditions with limited ability to contact each other physically, make direct sales and ensure the physical document rotation. All these limitations have pushed the governmental organisations, enterprises, and households to utilize numerous means of digital services and digital transformation aspects that had been started to be used, but the last year has rapidly pushed forward such aspects of digitalisation as digital sales, distance work using co-working platforms and cloud storage, electronic signature of documents and others. This study aims to assess the trends in online sales and use of e-tools from the perspective of enterprises and individuals in Europe in the sector of bioeconomy with the focus of the Baltic States and Latvia that could be used to strengthen the digitalisation component during and post COVID-19. In this paper, the authors have reviewed the scientific literature, policy planning documents, analysed relevant statistical data, performed statistical analysis, and estimated the tendency of the use of eSignatures in Latvia by applying the Holt's two-parameter model of exponential smoothing. The main results indicate a significant increase in motivation towards digitalisation that has increased rapidly in line with the necessity for an online shopping and distance work setting. Authors suggest supporting this tendency also in the after- COVID life, which would have a great impact on the overall digital transformation and potential to unlock new markets for bio-based products. [ABSTRACT FROM AUTHOR]

To comply with the requirements of EU Directive 2009/28/EC for using renewable energy sources (RES) in Latvia, the agricultural industry has to become a significant supplier of resources to energy producers and consumers. Agricultural crops have always been used for the production of food, feed, fibre, and fuel. Already in 2003, the program "Biofuel Production and Use in Latvia (2003-2010)" was approved. The approval of the program laid the foundations for a biofuels market. Biofuel production satisfies the domestic market demand, as well as the excess is being exported. At the end of the program, the government stopped supporting the biofuels industry. First-generation biofuel production is not competitive without government support. First-generation biofuel production technology could not overcome the development of the valley of death. Only the creation of bio-economy-based technologies for biofuel production can ensure its competitiveness [ABSTRACT FROM AUTHOR]