Mina Angelova

Department of Management and Quantitative Methods in Economics, University of Plovdiv Paisii Hilendarski

Bulgaria

mina.angelova@uni-plovdiv.bg

Development of bio-based economy: Entrepreneurial endeavors and innovation across Bulgarian wine industry

Daniela Pastarmadzhieva

Department of Political Sciences and National Security, 

University of Plovdiv Paisii Hilendarski

Bulgaria

daniela.pastarmadzhieva@uni-plovdiv.bg

Abstract. We are living in a time when the population of the Earth is increasing and the available resources are decreasing. The latter requires the establishment of a smart and sustainable bio-based economy, and the creation of such an economy is tightly associated with the implementation of innovations. Bulgarian wine industry is a sector, where possibilities of innovations related to bio-economy are vast and open. Thus, the current study aims at identifying the entrepreneurial endeavours and the innovations’ involvement in the wine industry as a specific sector of the bio-based economy in Bulgaria. The results indicate that there is a potential for the introduction of bio innovations in the wine industry as the producers are willing to implement them. However, currently there are almost no innovations related to the bio-economy and the prevailing innovations in Bulgarian wine industry are the marketing ones.

Received: September, 2019

1st Revision: January, 2020

Accepted: May, 2020

DOI: 10.14254/2071-8330.2020/13-2/11

JEL Classification: L26, O30, Q57

Keywords: bio economy, innovation, knowledge management and entrepreneurship, wine industry, Bulgaria