Estonia Overview - Andrus Viirg - Stanford - Jan 25 2010

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Estonia Overview - Andrus Viirg - Stanford - Jan 25 2010

  1. 1. Sinu logo ESTONIA overview www.europeanentrepreneursatstanford.com Andrus Viirg Enterprise Estonia Silicon Valley andrus.viirg@eas.ee www.investinestonia.com www.lifeinestonia.ee
  2. 2. Topics • Estonia in a nutshell • business & entrepreneurship • R&D and innovation • Estonia & US business connections • Enterprise Estonia • ...the big bang theory
  3. 3. ESTONIA
  4. 4. Estonia Republic of Estonia (1918-1940) regained independence in 1991 Member of EU, NATO (2004) Population: 1.36 million Territory: 17 464 sq mile GDP per capita: 11 830 EUR (2008) Currency board system (since 1992) Natural resources: 15.64EEK=1EUR timber, oil-shale Exports 76% of GDP transit trade comprising over 80% of the general transport of goods.
  5. 5. economic developments in Estonia 15 Global Break-up of real GDP growth (%) financial the USSR 11,4 10,5 10,5 crises 10 7,8 7,7 8 7,1 8,1 7,1 4,5 4,5 5,2 5 -1,6 -0,1 0 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 -5 EU -3,6 membership Russian & -10 Monetary ICT -9 Asian reform in boom & bust financial EStonia crises -15 -13,6 -14,2 -14
  6. 6. Estonia: integrating into Northern Europe  Sweden / Finland main foreign investment (FDI) & trade partners  cross border linkages • banking • telecommunications • timber industry • electronics • engineering
  7. 7. e & m services e-banking (98% non-cash e-Estonia transactions)  home of Skype m-parking, m-payments  NATO Cyber Defence Centre e-government electronic ID card e-taxboard, e-schools, e-health, e-police, e-elections … - electricity (3000 MW) - crude oil + diesel fuel oil-shale Estonia - fine chemicals & cosmetics
  8. 8. R&D and Universities – Tallinn University of Technology www.ttu.ee - 9,500 students - Technology Park: www.tehnopol.ee – Tartu University (est. 1632) www.ut.ee - 17,745 students - Tartu Biotechnology Park: www.biopark.ee - Tartu Science Park
  9. 9. innovation Centres of Excellence: cooperation between enterprises and R&D institutions (ca 130 mln USD) – 3 CEs in IT and electronics • Software Technologies and Applications (mainly e-health) • Electronics & ICT (smart space tecnologies) • Innovative Engineering & Production Systems (e-factory, e-production) – 2 CEs in food related research • Food & Fermentation Technology • Healthy Dairy Products – 2 CEs in biomedicine • Reproductive Medicine & Biology (diagnostics of infertility) • Cancer Research (new diagnostic platforms) – 1 CE in nanotechnology • (nano-structural gas sensors & functional nano-materials)
  10. 10. Venture Capital – Ambient Sound Investments: www.asi.ee – MTVP: www.martinsontrigon.com – Cresco www.cresco.ee/ – BaltCap www.baltcap.com
  11. 11. Estonian companies in US US companies in Estonia • www.fotki.com • www.fusionone.com • www.egeeninc.com • www.oak-biotech.com • www.artecgroup.com • www.spmtips.com • www.modesat.com • www.raintreeinc.com • www.mobilenowsolutions.com • www.ldi.ee
  12. 12. ENTERPRISE ESTONIA State foundation for Investment, Trade, Technology and Tourism promotion + the Space Office of Estonia  implementing agency of the EU structural funds in Estonia  budget of ca 1.3 billion USD (2007-2013)  about 300 employees  providing financing/grant products, advice, partnership opportunities and training for entrepreneurs, R&D institutions and the public and non-profit sectors Investment & Trade Promotion – We help international companies to get estonianised – We help estonian companies to get internationalised – Foreign offices in Stockholm, Helsinki, London, Hamburg, Moscow, St. Petersburg , Kiev, Silicon Valley, Shanghai and Tokyo
  13. 13. Where the Sun came to rest... 8000 BC: the glaciers are retreating, followed by the reindeer hunters (ancestors of present day Estonians) 1000 BC: a direct meteorite hit on Estonia (Bronze Age), the island of Saaremaa (isle of land) Greek mythology - Ultima Thule - Phaeton and the Chariot of the Sun
  14. 14. www.investinestonia.com www.visitestonia.com www.eas.ee www.lifeinestonia.ee

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