The Baltic nation, despite being one of the least populous places in the European Union, is churning out more startups per capita than any other country in the region, according to The Wall Street Journal. Skype Ltd. , the software company that made Internet phone calls popular and now is being acquired by Microsoft Corp. (Nasdaq: MSFT), laid the groundwork for this trend and tapped into a large pool of software and hardware engineering talent.
GOALS OF GARAGE48Organize practical, international and fun startup events with a really lean budgetShow that teams can turn an idea into a working service or prototype within just one weekendProve that new web and mobile projects can be started with a good team and really lean budgetPromote entrepreneurship and startup culture in Estonia, Northern Europe and AfricaTeach people to work under a tough deadline - you need to focus on the core items of the projectGet to know new people from other industries, roles and countriesLess talk, more action and fun!All Garage48 events are held in English and have about 100 participants from different countries. Participants have different skills, ranging from software development to design, marketing and management.
How to make it big outside yourhome market.The case of ESTONIAAndrus ViirgEnterprise Estonia Silicon Valleyandrus.firstname.lastname@example.org October 2011Sofia, Bulgaria
ENTERPRISE ESTONIAState foundation for Business Development:Investment, Trade, Innovation/Technology and Tourismpromotion + the Space Office of Estonia implementing agency of the EU structural funds in Estonia budget of 1.3 billion USD (2007-2013) about 300 employees providing financing/grant products, advice, partnership opportunities and trainingInvestment, Trade & Innovation Promotion – assisting international companies to estonianize – assisting Estonian companies to internationalize – Foreign (promotional) Offices in Stockholm, Helsinki Hamburg, London, Moscow, St. Petersburg, Kiev, Shanghai, Tokyo and Silicon Valley
How to make it BigEstonia – churning out startups• Small is Beautiful• behind the scenes• lessons learned
Estonia produces a disproportionate slide shared by Robin Wautersnumber of startups per capita during Seedcamp Week in London (sept.2011), where out of 20 companies 4 Estonian startups presented and two 2 became finalists. GrabCAD, is a mechanical engineering community and a marketplace Sportlyzer is an online training advisor.
Wired European Startups The Wired Magazine By Tom Cheshire 16 August 2011Tallinn has some heavyweight tech credentials, but new companiesare emerging. Garage48, a monthly two-day hackathon, has spawnedseveral startups
Estonia – behind the scenes integrating into Scandinavia birthplace of Kazaa & Skype NATO Cyber Defence Centre EU IT Agency e-Estonia
Behind the scenesTallinn Science Park Tehnopolwww.tehnopol.ee/enEstonia Startup Leaders Clubwww.startupleadersclub.comBrainhunt (prize fund of 95000 EUR)www.ajujaht.ee/english/FinEst Start up Programhttp://www.fineststartups.eu/Estonia Start Up Program
Garage48Garage48 events started in Estonia in April 2010 and haveexpanded to other countries in Northern Europe and Africasince then.Riga, Latvia in November 18-20Kiev, Ukraine in November 25-27 ?Johannesburg, South Africa, Dec 2-4Helsinki, Finland in 2012Mexico City, Mexico in 2012St. Petersburg, Russia in 2012Stockholm, Sweden in 2012
Where is the Money• Ambient Sound Investments (ASI) http://asi.ee/• Martinson Trigon Venture Partners (MTVP) http://www.martinsontrigon.com/• investment banking – LHV, BaltCap, Trigon, Cresco• angels• Estonian Development Fund
Enterprise Estonia Silicon Valley ICT Bio/Nanotech CleantechNETWORKING & Awareness building:establishing and maintaining a network in US and Estonia amongtechnology companies, R&D Institutions and Universities to facilitatedirect contacts among potential partners.US Market Access (Export promotion):1) identifying potential partners and service providers2) technical assistance: office & meeting space, networking events,setting up office (virtual and/or incorporating in US)Raising venture capital for expansion in US and FDI promotion:1) promoting Estonia as a location for doing business2) approaching VCs
How to make it big? lessons learned• right time right place – you have to visit the hotbeds – There is life beyond Silicon Valley (India, Africa...)• networking• get the company structure right – born global – involve advisors• don`t give up, be a serial enterpreneur. It takes only one great idea to get you on the map – Skype – Rovio (Angry Birds) .
Innovative start-ups from Estonia going globalSix Estonian companies on the And just to list some more Estonian100 global list of Innovate2010 start-ups in USGuidewire Group www.erply.comwww.nowinnovations.com www.zerply.comwww.fits.me www.crabcad.comwww.grabcad.com www.utopic.mewww.taxipal.com www.mobilenow.comwww.edicy.comwww.nutiteq.comOn the 100 list of Red Herring Asiawww.guardtime.com