Factors affecting technology innovation hubs to enhance circular economy adoption in Baltic states

Abstract

Purpose The study aims at identifying the factors influencing technology innovation hubs to increase the rate of circular economy (CE) adoption in Baltic states like Estonia, Latvia and Lithuania. This research provides insights related to technical innovation hubs and its relation existing with CE adoption. Design/methodology/approach Highlighting the importance of technology innovation hubs in promoting the CE for the Baltic States, this research prioritizes improvements in resource allocation, better environmental performance and the changing demands of the stakeholders. It is significant to reveal the key insights about the applicability of innovative centres in establishing the CE. To achieve this, the research uses multiple linear regression analysis on the data obtained from the survey in which 250 individuals participated. This methodological approach makes it possible to determine and measure specific factors that have a considerable impact on the operational performance of technology innovation hubs and provides a better understanding of how these hubs might improve their support of CE goals. Findings The analysis reveals that digital technologies, technology infrastructure and skilled workforce are key drivers of CE adoption, and eco-innovation connectivity and government support have a moderate impact, while collaboration and networking did not influence. Originality/value The research gap is adequately addressed by the authors, focusing on the unexplored technology innovation hubs toward driving CE practices and sustainable development. This research shows that technology innovation hubs have a positive effect in introducing CE practices in the Baltic states. This also makes a theoretical contribution by identifying the prerequisite factors that are necessary for these hubs to be successful.