Estonia’s per capita investment of €9,800 in 2022 was a remarkable achievement, surpassing the European average of €130. The country has earned a reputation as an emerging startup success story in Europe, known for its innovative potential.
Several factors contribute to Estonia’s digital strength, including its recognition of internet as a basic human right, which has made it a leader in IT, cybersecurity, and government. This recognition has also created a highly skilled talent pool with excellent English proficiency, making it attractive for international founders and investors seeking talent.
Additionally, the Estonian Startup Visa has played a significant role in meeting the rising demand for talent in the tech and IT sector.
As per the Estonian Startup Database, Estonia has over 1400 startups, and this number continues to grow significantly. Despite its small population of approximately 1.3 million, Estonia has emerged as a crucial player in the European tech scene. Estonia has produced ten unicorns, including Skype in 2005, Playtech in 2007, Wise in 2015, Bolt in 2018, Pipedrive in 2020, and Zego, ID.me, Gelato, Veriff, and Glia in 2021 and 2022.
Estonia has emerged as a small nation with a big impact on the European tech and startup scene. With its favorable policies and culture of innovation, Estonia has become a global leader in IT, cybersecurity, and government. Its recognition of internet as a basic human right has created a highly skilled talent pool and attracted international founders and investors. The country’s startup ecosystem is thriving, with over 1400 startups founded and ten unicorns created.
Estonia’s success is a testament to its commitment to digital innovation and its efforts to create a favorable environment for startups and entrepreneurs. It will be exciting to see what the future holds for Estonia’s tech and startup scene.