Role of SMEs for development of bioeconomy pointed in forum in Vidzeme (VIDEO available)

Nov. 7, 2019 | Vidzeme, Latvia

The bioeconomy has been on the agenda of the Vidzeme Planning Region for two years. An action plan has been developed based on concrete actions and steps to be taken to develop the knowledge driven bioeconomy innovation ecosystem in Vidzeme.

Although knowledge-based bioeconomy has been identified as one of the most important areas of development and at the same time one of five smart specialisation areas in Latvia, it is essential to raise knowledge and awareness on bioeconomy in society.

Information and understanding enhance the ability of the public to engage in qualitative discussions and encourage them to innovate in their everyday business.

On October 15, 2019, those who have been working in the bioeconomy for a long time, as well as those who are ready to study it in more detail and are looking for cooperation opportunities for the development of innovative products and processes, gathered in Ligatne village, in Vidzeme region / Latvia.

To continue the popularization of the name and potential of the bioeconomy, as a follow-up forum for the first bioeconomy forum organized in March, this time the forum highlighted the importance of cross-sectoral cooperation – the role of digitalization and opportunities for bioeconomy development.

The bioeconomy is still in a relatively early stage of development in Latvia, so it should be emphasized that digitalization has a huge impact on it. Technologies and data can provide solutions to long-standing problems, and moreover. Digitalization has the potential to deliver a significant additive effect to process improvements and development.

Technological development, innovation and digitalization play a key role in increasing the efficiency of existing production processes by introducing digital solutions for managing raw material flows or coordinating logistics. Digitalization enables the development of new bio-based products, services and business models, optimizing production costs and reducing their environmental impact, thus contributing to European and global competitiveness.

The aim of the event organizers was to introduce entrepreneurs and leaders of municipalities, universities and scientific institutions with innovative solutions for development of bioeconomy value chain, as well as digitalization solutions and opportunities available in Europe and Latvia. Not only are we aware, but also foreign experts point out that rural areas and regions that concentrate their agricultural, food, water and forest resources have the greatest potential for bioeconomy.

We look back at the event and invite you to watch the VIDEO story. In it, experts share a few insights that can serve as a basis for initiative and ideas on how bioeconomy and digitization can help a business grow.