The Entrepreneurship Award, Estonia’s highest national recognition for companies, has just announced the winner of its 29th edition at a gala ceremony. The award, opened by President Alar Karis, celebrates outstanding Estonian and foreign companies that have consistently demonstrated resourcefulness, innovation, and success, contributing to the prosperity of their employees and the country as a whole.
This year, the winner reflects the major change in the global economy, where the demand for high-tech energy solutions is boosted by the green transition and the rise of resource-hungry computing. Electrical equipment manufacturer Harju Elekter was crowned Company of the Year. The company was particularly recognised for its outstanding achievements in manufacturing digitalisation.
According to Kati Kusmin, Chair of the Board at Enterprise Estonia, Harju Elekter serves as a model for long-established manufacturing companies. “Digitalisation of industries is one of the key challenges in taking our economy to the next level. It enables increased productivity, reduced costs, and accelerated innovation – key factors for international market breakthrough,” said Kusmin.
Harju Elekter, which won both Company of the Year and Industry Digitiser of the Year, generates over 70% of its revenue from exports. Their digital solutions throughout the production process, use of high-tech industrial automation, and implementation of artificial intelligence help maintain their competitive edge with international partners. A notable development is their collaboration with major German industrial groups on data centre projects, which they supply both within and outside the European Union.
Category winners
- Exporter of the Year: Nortal
- Industry Digitiser of the Year: Harju Elekter
- Innovator of the Year: DefSecIntel Solutions
- Sustainability Developer of the Year: Estiko-Plastar
- Tourism Promoter of the Year: OKO Restoranid
- Family Enterprise of the Year: Bauroc
- Foreign Investor of the Year: HANZA Mechanics Tartu
All of these awards showcase Estonia’s growing reputation as a hub for innovation and technological advancement, yet one has a special status for Invest Estonia, as we work to bring the world’s best investors to Estonia.
HANZA Mechanics Tartu, named Estonia’s Best Foreign Investor of 2024, has built a true engineering haven in South Estonia. The company, part of the global HANZA group, provides comprehensive contract manufacturing services under their “all you need is one” concept, serving global giants like ABB, Siemens, and 3M. Their recent €10 million expansion added 4,000 square meters to their sheet metal facility, part of a larger €20 million investment over the past three years in modernising their operations. According to Baltic cluster head Liivar Kongi, the Tartu complex has become a world-class manufacturing hub that impresses potential clients from across Europe.
Besides the category leaders, the Entrepreneurship Award also highlighted some sectoral leaders — listed below.
Most competitive companies by sector
- Industry and Energy: Eesti Gaas
- Trade: Auto 100
- Service: Swedbank
- Tourism and Catering: Estravel Group
- Communications and IT: Telia Eesti
- Food Industry: Tartu Mill
- Engineering, Architecture and Design: Energiapartner
- Construction: Merko Ehitus
- Real Estate: Elke Grupp
- Financial Services: Swedbank
- Agriculture, Forestry and Fishing: Tornator Eesti
- Transport and Logistics: Jetflite
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