Biotechonomy Innovations Development Barriers in Latvia

The matter of providing people with the resources available is becoming more and more important in the world. The conception of biotechonomy contains the solution of this problem, because the resources are being used in the long term creating innovative products with high value added. However, this system does not always work. So it is essential to find out what are the causes for this problem in order to find solutions and strengthen the development of innovations of biotechonomy. The aim of this research is to identify the main barriers of the development of biotechonomy in Latvia. An analysis of literature (involving similar studies already carried out) was used as the basis of the research and the current situation of the development of biotechnical innovations in Latvia was taken into account as well. The main barrier types identified were: financial, policy-related, market-related, behavioural, organisational, technological, resource-driven, as well as environmental and climate-related.