estonia overview - andrus viirg - stanford - jan 25 2010
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Sinu logo
ESTONIA overviewwww.europeanentrepreneursatstanford.com
Andrus Viirg
Enterprise Estonia Silicon Valley
www.investinestonia.com
www.lifeinestonia.ee
Topics
• Estonia in a nutshell
• business & entrepreneurship
• R&D and innovation
• Estonia & US business connections
• Enterprise Estonia
• ...the big bang theory
ESTONIA
Estonia
Republic of Estonia (1918-1940) regained independence in 1991
Member of EU, NATO (2004)
Population: 1.36 millionTerritory: 17 464 sq mile
Currency board system(since 1992)15.64EEK=1EUR
GDP per capita: 11 830 EUR (2008)
Natural resources:timber, oil-shale
Exports 76% of GDPtransit trade comprising over 80% of the general transport of goods.
economic developments in Estonia
-13,6
-9
4,5 4,5
10,5
5,2
7,8 7,7 87,1
8,1
10,511,4
7,1
-3,6
-14-14,2
-1,6 -0,1
-15
-10
-5
0
5
10
15
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
real GDP growth (%)
Monetary reform in EStonia
Russian & Asian financial crises
ICT boom & bust
EU membership
Global financial crises
Break-up of the USSR
Estonia: integrating
into Northern Europe
Sweden / Finland main
foreign investment (FDI)
& trade partners
cross border linkages
• banking
• telecommunications
• timber industry
• electronics
• engineering
e-Estonia
e & m services
e-banking (98% non-cash
transactions)
m-parking, m-payments
e-government
electronic ID card
e-taxboard, e-schools,
e-health, e-police, e-elections
…
home of Skype
NATO Cyber Defence Centre
oil-shale Estonia
- electricity (3000 MW)
- crude oil + diesel fuel
- fine chemicals & cosmetics
– 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
R&D and Universities
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)
Venture Capital
– Ambient Sound Investments: www.asi.ee
– MTVP: www.martinsontrigon.com
– Cresco www.cresco.ee/
– BaltCap www.baltcap.com
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
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
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
www.investinestonia.com
www.visitestonia.com
www.eas.ee
www.lifeinestonia.ee