A. Jakobsone1, J. Motejlek2, S. Cakula3

1Liepaja University (LATVIA)
2The Technical University of Liberec (CZECH REPUBLIC)
3Vidzeme University of Applied Sciences (LATVIA)
Information and communication technology plays an important role in the knowledge management process, helping entrepreneurs learn and solve lots of different problems more effectively. In this regard, it is very important to figure out the principal directions for implementing work-based learning strategies in the learning process. The goal of the paper is to get a new perspective on and understanding of the future of work-based learning involving the use of new technological opportunities. This paper also describes the theoretical principles of information flow modelling with a practical example of a virtual business incubator containing online materials for study use, as well as the side effect of work-based learning, which is general improvement of the working environment. The research idea is to describe the principles of a system focusing on an online support system for entrepreneurs, the influence of different conditions and the unique patterns of development in each individual to ensure sustainable entrepreneurship. In order to find the most efficient application of ICT resources and knowledge management technologies with an aim to save time and use work-based learning to its utmost potential, it is necessary to study different theories, which will help us understand how information systems have to be created and structured to reach the set goals. The result of the research is the analysis of the information system and description of virtual business incubator as an online learning platform, improved quality of knowledge flow, and recommendations for developing work-based learning with regard to the encouragement of efficient knowledge management in entrepreneurship for common aims.