Estonian innovation and
entrepreneurial ecosystem
Andrus Viirg
Enterprise Estonia Silicon Valley
andrus.viirg@eas.ee
www.e...
ENTERPRISE ESTONIA
State foundation for Business Support & Development:
 implementing agency of the EU structural funds i...
Republic of
Estonia
(Eesti)
1918 - 1940
1991 - .....
Member of
EU, NATO (2004),
OECD (2010)

Population:
1.36 million
in t...
"With its narrow streets, medieval buildings and quaint Christmas markets, the city of Tallinn
resembles a scene from a Ch...
Doing Business in Estonia
an Emerging Nordic country with a
strong and stable economy

• simple tax system
– flat 21% inco...
e-Estonia
www.e-estonia.com

The

phenomenon

Technologically advanced business
Estonia's capital Tallinn - (david jones)
...
Estonia produces a disproportionate
number of startups per capita
slide shared by Robin Wauters
during Seedcamp Week in Lo...
ESTONIA
the top nation per capita
for the number of
international fashion
models.
Connectors
of the Estonian entrepreneurial ecosystem
• Garage48
o

www.garage48.org/en
Hackathon – turn your idea into a w...
innovative Estonia
2013
• Going electric:

first country to operate a nationwide Electric Vehicle (EV)
fast chargers netwo...
”Here you have a big black guy, a
skinny India guy and we’re investing
in a country in Estonia.
I love globalization it’s ...
From a humble swing to a mad northern
European sport KIIKING
the go-to way to carry your wife is
called the “Estonian” met...
9 tech Trends for 2014
& European startups building
businesses on top of them
3 Estonian startups to watch

@robinwauters ...
What can Estonia offer?
www.investinestonia.com
Strategic & Safe Geological Location
- on the trade roots between W & E;
-...
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Andrus Viirg - Enterprise Estonia - Silicon Valley - Stanford Engineering - Jan 13 2014

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Andrus Viirg - Enterprise Estonia - Silicon Valley - Stanford Engineering - Jan 13 2014

  1. 1. Estonian innovation and entrepreneurial ecosystem Andrus Viirg Enterprise Estonia Silicon Valley andrus.viirg@eas.ee www.estonia.eu www.investinestonia.com European Entrepreneurship and Innovation Thought Leaders Stanford Engineering January 13, 2014
  2. 2. ENTERPRISE ESTONIA State foundation for Business Support & Development:  implementing agency of the EU structural funds in Estonia  ca 270 employees  financing agency (grants) for enterprises, R&D and non-profit institutions  budget 784 mln EUR during 2007-2013  budget 750 mln EUR for 2014-2020 Investment, Trade & Innovation Promotion – assisting international companies to estonianize – assisting Estonian companies to internationalize – Foreign Representative Offices: Hamburg, Helsinki , London, Moscow, Stockholm, St. Petersburg, Oslo Shanghai, Tokyo and Silicon Valley
  3. 3. Republic of Estonia (Eesti) 1918 - 1940 1991 - ..... Member of EU, NATO (2004), OECD (2010) Population: 1.36 million in the EURO zone from Jan.1, 2011 GDP: 28 billion USD GDP per capita: 21 000 USD (2012 estimates)
  4. 4. "With its narrow streets, medieval buildings and quaint Christmas markets, the city of Tallinn resembles a scene from a Christmas card. The Christmas market in the Town Hall Square is one of Europe's prettiest, and the city's old town area -- a UNESCO World Heritage Site often referred to as the "medieval pearl of Europe," is also worth checking out."
  5. 5. Doing Business in Estonia an Emerging Nordic country with a strong and stable economy • simple tax system – flat 21% income tax NO Corporate Income tax on reinvested profits (21% tax on dividends only) • efficient company setup and reporting based on e-government solutions #21 globally in the World Bank’s Ease of Doing Business Index #3 in terms of countries with small populations #7 best global location for “trading across borders”. among the most wired and technologically advanced countries in the world
  6. 6. e-Estonia www.e-estonia.com The phenomenon Technologically advanced business Estonia's capital Tallinn - (david jones) LES ECHOS/Worldcrunch platforms & e-Government services host of NATO´s Cyber Defence Centre electronic ID card & digital signature from 2002 e-Tax Board, e- Land Register, e-Business Register e-Police, e-School, e-Health, e-Prescription, e-Voting,... e-banking: 98% of bank transactions electronically m-parking
  7. 7. Estonia produces a disproportionate number of startups per capita slide shared by Robin Wauters during Seedcamp Week in London (sept.2011), where out of 20 companies 4 Estonian startups presented and two 2 became finalists. and this happened again in 2013 AngelList has 138 Estonian entries, which on a per capita basis, puts it as number one country (US is second) #estonianmafia coined in by Dave McClure (500 Startups)
  8. 8. ESTONIA the top nation per capita for the number of international fashion models.
  9. 9. Connectors of the Estonian entrepreneurial ecosystem • Garage48 o www.garage48.org/en Hackathon – turn your idea into a working services within 48 hours • Enterprise Estonia www.eas.ee/en o StartSmart (EST- FIN network for startups,...) www.start-smart.me/en o BrainHunt www.ajujaht.ee/english/ o Network of Foreign Rep. Offices • Estonian Development Fund & SmartCap o Monitoring & Growth Programs o Governmnet VC arm www.arengufond.ee/eng www.smartcap.ee • Tallinn Tech University o Mektory (Innovation & busines center) • Tallinn Science Park Tehnopol o Prototron, prototyping fund • Accellerators/Incubators o o o StartupWiseGuys Gamefounders Technopolis Ülemiste www.ttu.ee/projects/mektory-eng/ www.tehnopol.ee/en
  10. 10. innovative Estonia 2013 • Going electric: first country to operate a nationwide Electric Vehicle (EV) fast chargers network • Technology supplied and built by ABB (Switzerland) • The payment and billing platform provided by NOW!Innovations (Estonia) www.nowinnovations.com • Going to Space: first Estonian satellite launched May 4, 2013 • around 100 students and scientists from Tartu University & Tallinn Tech • 40 research projects & 3 doctoral thesis • main mission to test electric solar sail technology • Going Digital: • Estonia and Finland in first-ever digital treaty 'signature‘. The Estonian-Finnish co-operation memorandum on IT matters signed by the PMs foresees joint work on software for e-government services. the Top7 Intelligent Community of the Year is Tallinn (The Intelligent Community Forum (ICF), based in New York)
  11. 11. ”Here you have a big black guy, a skinny India guy and we’re investing in a country in Estonia. I love globalization it’s great.” Sacramento Kings owners Vivek Ranadivé and Shaquille O’Neal announcing their investment in Oct.30 2013
  12. 12. From a humble swing to a mad northern European sport KIIKING the go-to way to carry your wife is called the “Estonian” method
  13. 13. 9 tech Trends for 2014 & European startups building businesses on top of them 3 Estonian startups to watch @robinwauters / founding editor of Tech.eu • # trend: Connected Cars & Fleets www.high-mobility.com develops new entertainment, navigation, electronics and settings system for cars • # trend: 3D Printing www.grabcad.com shares CAD files with chosen partners and allows users to view, measure, and comment on 3D models right in the browser. • # trend: Digitization of Finance www.transferwise.com transfer money wherever it's needed, at the lowest possible cost.
  14. 14. What can Estonia offer? www.investinestonia.com Strategic & Safe Geological Location - on the trade roots between W & E; - no volcanos, earthquakes, tornados - cool climate Modern Infra - excellent fiber connections to global data networks Power – self sufficient in electricity with added connections to Finland, Latvia and Russia Competitive Environment - 0% corporate income tax on reinvested profits Highly Qualified Labor - language, finance, IT skills a perfect location for - data centers - tech manufacturing - service centers

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