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Estonia and Silicon Valley


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Estonia and Silicon Valley

  1. 1. Estonia - Silicon ValleyAndrus ViirgEnterprise Estonia Silicon Valleyandrus.viirg@eas.eewww.estonia.euwww.investinestonia.comFebruary 16, 2012 @ Tallinn Tech
  2. 2. ENTERPRISE ESTONIAState foundation for Business Support & Development: implementing agency of the EU structural funds in Estonia  budget 1.3 billion USD (2007-2013) ca 300 employees financing and other support schemes for enterprises, R&D and non-profit institutionsInvestment, Trade & Innovation Promotion– assisting international companies to estonianize– assisting Estonian companies to internationalize– facilitating tech & knowledge transfer– Foreign Representative Offices: Helsinki , Hamburg, London, Stockholm Moscow, St. Petersburg, Kiev, Shanghai, Tokyo and Silicon Valley
  3. 3. Estonia – Silicon Valley/California••••••••••••••
  4. 4. Not only e-Estonia/ USA• Oil shale mining, oil extraction – www.enefit.comEnefit acquired 100% of OSEC (Oil Shale Exploration Company) shares and became the owner of the largesttracts of privately owned oil shale properties in Utah. Enefit is planning to construct an oil shale plant with acapacity of 57,000 barrels of shale oil per day at full production.• Metal constructions and antennas of ground stations for sattellite communication• Rare metals used in high-tech industries – acquired by April 4 2011 3% of global production (China 97%)
  5. 5.• operates in the intersecting worlds of Silicon Valley and the Nordic region to help members succeed in their professional and personal endeavors.• provides networking events and communicates valuable information of interest to its members.
  6. 6. Latitude59 Tallinn Tech, June 7-8, 2012• THE Conference for the Nordic&Baltic start-up scene.• a continuation of the annual conference organized by Enterprise Estonia and ITechLaw in Tallinn since 2008.• New partners include TTU, MobileMonday, Garage48, TechHub Riga, Aalto Venture Garage, Tallinn Tehnopol,...),• it brings together innovators, entrepreneurs, venture capital partners, lawyers, angel investors, and those who support the global expansion of innovative companies originating in countries three hundred kilometers either side of Latitude 59.• In addition, a pitch contest will be organized. The jury will consist of VCs from the Nordic/Baltic region as well as from US
  7. 7. Venture Capital deals120 (USD billion)100 2010 9 billion USD 2010 (36% of USA deals) 1027 deals (total USA 3447) 201180 11,7 billion USD (42% of USA deals) 1158 deals (total USA 3673) 686040 26 other US20 19 18 16.7 32 14.2 12.7 14.2 15 16.4 11.2 14 Silicon Valley 12 6.8 6.3 7.8 8 9.6 11 11 7.8 9 11.7 0 200020012002200320042005200620072008200920102011 PWC: MoneyTree Report 2012 NVCA
  8. 8. Exits M&A vs IPO (USA)VC Exits: 91 – 00 VC Exits: 01 - 10 12% 42% M&A IPO 58% 88%NVCA