Estonia’s startup sector has grown to a level that – when considering sales – is similar to the size of Estonia’s whole agricultural sector, Estonian Founders Society stress in their Vision 2030. It, of course, must be understood that agriculture in the region has had hundreds of years to grow – and as some success stories, particularly in the Food sector, show, agricultural companies here can be quite successful, when run properly.
But what does the comparison show about Estonia’s startups? That they are an enormous thing in Estonia – and that the startups’ impact can be felt throughout the economy.
Founders: We are expecting exponential growth
While currently employing 6,300 people or 1 per cent of Estonia’s workforce, the country’s startups are creating 2-3% of the GDP. Past growth of about 30% a year in the startup sector means that if the growth continues at the current rate, the startup sector will grow to more than € 9 billion and 50,000 employees by 2030.
“By continuing our current growth of tech sector, in 5 years we would have few tens of thousands and in 10 years it will be over 50,000 jobs created,” Estonian Founders Society writes. “It’s just 10% of Estonian total working population in 2030. It would mean revenues of 10 billion euros, or ca 30% of Estonian GDP. This could be our dream of export economy where knowledge, technology and science create majority of the value.”
Unicorn59 introducing Estonia’s coolest startups to invest in
Interested in the Estonian startup scene? Tune in to “Unicorn59 – demo-minutes powered by Estonia” on June 17, 2021 at 4:00 PM (UTC/GMT +3 hours) to The programme includes a fireside chat with Maarja Pehk, the CEO of Latitude59 and Martin Villig, President of Estonian Founders Society and Co-Founder of Bolt, discussing past and future developments of the startup scene, Estonia’s growth ambition and giving back to the community.
The event will feature seven hand-picked startups pitching their vision. At Unicorn59 you’ll meet Pactum, Fractory, Katana, Planet42 , Salv, Comodule and Xolo. By signing up, you will gain access to an exclusive and until now – secret – list of Estonia’s startups looking for funding in 2021. Browse it and there will be some interesting finds for you!
🔴 Register for Unicorn59 on Hopin here.
