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Calling all innovators: Estonia’s top business award nominations closing soon

The 29th Entrepreneurship Award is open for nominations, celebrating the best in Estonian business and welcoming global players. Apply or present your favourites before July 7th.

The 29th edition of the prestigious Entrepreneurship Award, Estonia’s highest national recognition for companies, is still accepting nominations and applications. The application and nomination process is open to all companies, both domestic and international. The deadline for submissions is July 7. Following a rigorous evaluation process, the winners will be announced at a gala award ceremony on November 2nd.

Celebrating Estonia’s best

The award celebrates outstanding Estonian companies that have consistently demonstrated resourcefulness, innovation, and success, contributing to the prosperity of their employees and the country as a whole. This year’s competition features seven categories:

  1. Industry Digitiser
  2. Exporter
  3. Innovator
  4. Foreign Investor
  5. Sustainability Developer
  6. Tourism Developer 2024
  7. Family Enterprise 2024

One of the most significant on the list, the Foreign Investor category recognises the significant contributions of international businesses to Estonia’s economy. It aims to acknowledge successful foreign investors who have chosen Estonia as their base of operations, fostering innovation, creating jobs, and driving economic growth. And it has some impressive winners in its track record, such as:

  • 2023 — FLIR Systems Estonia OÜ, a subsidiary of FLIR Systems, a global leader in the design and production of thermal imaging cameras and sensors. The Estonian division plays a crucial role in the company’s research, development, and manufacturing operations, contributing to the advancement of thermal imaging technology for various applications, including defence, industrial, and commercial sectors.
  • 2022 — Incap Electronics Estonia AS, a subsidiary of Incap Corporation, a leading global provider of electronics manufacturing services. Operating in Kuressaare, on the island of Saarema, since 2000, Incap Electronics Estonia AS boasts a modern factory with a flexible capacity for manufacturing various electronics products, even including components for NASA’s lunar mission.
  • 2021 — Ensto Ensek AS, a subsidiary of the Ensto Group, is a key player in Estonia’s energy sector, specialising in the development and manufacturing of electrical solutions. Based in Tallinn, the company provides innovative products and services for power distribution, building automation, and electric vehicle charging infrastructure, with a strong focus on sustainability and digitalisation.

Other winners include Ericsson Eesti AS, Estonian Cell AS, Toftan AS and more.

 Incap Estonia

Join the nominations

Want to join or add another name to this impressive list? We encourage all companies with compelling stories and accomplishments to participate in this year’s Entrepreneurship Award for a chance to showcase your achievements and gain national recognition. To contend for the Foreign Investor top spot, follow this link and apply or nominate your favourites.

To be eligible, companies must have international shareholders and demonstrate substantial investments in Estonia within the last three years.

The evaluation process is a comprehensive assessment that weighs both economic indicators and broader achievements. Economic indicators, accounting for 30% of the final score, include the growth in added value per employee, investment volume, and the number of full-time employees between 2021 and 2023.

The remaining 70% of the evaluation focuses on the company’s broader impact in Estonia. This includes creating new products, technologies, or industries, generating highly qualified jobs, and expanding the company’s value chain within the country.

Wish to dive into Estonia’s business environment? Try out our brand-new comparison tool and find your niche.

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