1.
Estonia
www.estonia.eu
Andrus
Viirg
Enterprise
Estonia
Silicon
Valley
andrus.viirg@eas.ee
www.inves9nestonia.com
European
Entrepreneurship
and
Innova9on
Thought
Leaders
Stanford
Engineering
March
2,
2015

2. ENTERPRISE
ESTONIA
State
founda3on
for
Business
Support
&
Development:
§ implemen9ng
agency
of
the
EU
structural
funds
in
Estonia
§ ca
270
employees
§ financing
agency
(grants)
for
enterprises,
R&D
and
non-­‐profit
ins9tu9ons
§ budget
784
mln
EUR
during
2007-­‐2013
§ budget
750
mln
EUR
for
2014-­‐2020
Investment,
Trade
&
Innova3on
Promo3on
– assis9ng
interna9onal
companies
to
estonianize
– assis9ng
Estonian
companies
to
interna+onalize
– Foreign
Representa3ve
Offices:
China
(Shanhai);
Finland
(Helsinki);
Germany
(Hamburg);
Japan
)Tokyo):
Russia
(Moscow
&
St.
Petersburg);
Sweden
(Stockholm
-­‐
for
whole
Scandinavia);
UK
(London);
USA
(Silicon
Valley)

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 (PPP):
30 billion USD
GDP per capita:
22 400 USD
(2013)

4. Photograph:
Minna
Sundberg

5. Photograph:
Minna
Sundberg

6. Doing
Business
in
Estonia
an
Emerging
(New)
Scandinavia
country
with
a
strong
and
stable
economy
• simple
tax
system
– flat
20%
income
tax
NO
Corporate
Income
tax
on
reinvested
profits
(20%
tax
on
dividends
only)
• efficient
company
setup
and
repor9ng
based
on
e-­‐government
solu9ons
#1 in EU in the `economic freedom`
index by Heritage Foundation & WSJ
# 8 globally
#17 globally in the World Bank’s Ease
of Doing Business Index
#6 best global location for
“trading across borders”.
among the most wired and
technologically advanced countries in
the world

7. Five
Global
Ci9es
of
the
Future:
the
emerging
startup
hubs
for
opportuni9es
to
launch
or
expand
interna9onally
Tallinn
(Estonia)
-­‐
most
internet-­‐connected
ci9es,
with
a
deep
pool
of
tech
talent
thanks
to
all
the
Skype
alumni
running
around.
San+ago
(Chili)
-­‐
one
of
the
most
foreign-­‐entrepreneur-­‐friendly
ci9es
Dubai,
Istanbul
(Middle
East)
–
gateways
to
Modern
Middle
East
Shenhzen
(China)
-­‐
Silicon
Valley
for
hardware
makers
Greg
Lindsay,
contribu9ng
writer
at
Inc.
and
co-­‐
author
of
Aerotropolis:
The
Way
We'll
Live
Next.

8. e-­‐Estonia
Technologically
advanced
business
plaKorms
&
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-­‐Prescrip9on,
e-­‐Vo9ng,...
e-­‐banking:
98%
of
bank
transac9ons
electronically
m-­‐parking
www.e-estonia.com

9. *Estonian crowdsourced database
5,690,000
3,958,000
7,304,831
4,315,000
18,530,867
8,154,000
20,700,500
32,354,041
70,805,333
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
2006
2007
2008
2009
2010
2011
2012
2013
2014
Funding of Estonian Startups
Capital from Estonia (EUR)
Total raised capital (EUR)
The
phenomenon

10. Wall
of
Fame
#estonianmafia

11. • Founded
in
2010
in
Tallinn,
Estonia
• TechStars
Boston
alumni
• In
2014
acquired
by
the
US-­‐Israeli
provider
of
3D
prin9ng
solu9ons,
Stratasys
Ltd,
for
around
US$100m
• In
January
2015,
it
was
announced
that
NASA
uses
online
engineering
plakorm
GrabCAD
to
design
a
handrail
clamp
assembly
(HCA)
for
the
Interna9onal
Space
Sta9on
(ISS)
that
can
be
printed
on
the
ISS
3D
printer.

12. Nothing
to
hide!
Bath4Banks!
Investors(raised
72mln
EUR):
a16z,
sir
Richard
Branson,
Peter
Thiel,
Index
Ventures…
SeedCamp
The
clever
new
way
to
beat
bank
fees
when
sending
money
abroad!
The
first
UNICORN

13. In
2013
we
went
to
space….

14. In
2014
we
launched
the
first
suprana3onal
e-­‐residency
scheme
in
the
world:
10
million
e-­‐Estonians
by
2025?
e-­‐residency?
Gepng
access
to
the
e-­‐services
available
in
Estonia.
-­‐ Establishing
a
company
online
-­‐ Filing
documents,
reports
and
tax
returns
online
-­‐ Online
par9cipa9on
at
shareholders/board
mee9ngs
-­‐ Signing
documents
digitally
-­‐ Encryp9ng
documents,
-­‐ Online
banking,….

15. Steve
Jurvetson
(DFJ):
`…it
will
be
easy
for
U.S.
startups
to
set
up
their
European
presence..`
December
2014
This
is
so
freaking
huge
man,
it´s
insane!
The
plan
to
let
anyone
become
European
-­‐
digitally

16. 6th European Sauna
Marathon (Otepää,
Estonia)
1
000+
par9cipants:
track
down
and
visit
the
given
Saunas….

17. Andrus
Viirg
Enterprise
Estonia
Silicon
Valley
andrus.viirg@eas.ee
www.inves9nestonia.com