The winners of Estonia’s largest business competition, Best Estonian Companies 2023, were announced today by the Estonian Employers’ Confederation, Estonian Chamber of Commerce & Industry and Enterprise Estonia. The nominees will battle for the Company of the Year title on November 4 at the gala, which will also be broadcasted on ETV.
The Best Estonian Companies is Estonia’s largest and longest-running entrepreneurship competition, dating back to 1996. Established under the leadership of President Lennart Meri as Entrepreneurship Award, it has awarded best investors and industry leaders ever since.
For this year’s nominations, Enterprise Estonia, together with The Estonian Employers’ Confederation selected the best in six categories and the Chamber of Commerce and Industry in three categories.
Sigrid Harjo, a member of Enterprise Estonia’s management board, announced that the category winners’ competition will culminate in one company being crowned on November 4. She added that the competition is tight, showcasing the diversity of the business sector. Harjo expressed her appreciation for all the companies, saying, “Sincere thanks to the teams of all companies – your impact on developing our society is invaluable, and the success achieved in the competition is just a fraction of the recognition you really deserve.”
From investors to industrial disruptors
The Foreign Investor of the year 2023 is FLIR Systems, the Estonian branch of the international Teledyne Technologies group, which develops and manufactures infrared devices in Tallinn. For many years, FLIR Systems Estonia has led Estonia’s electronics industry by specialising in precise manufacturing and R&D. Established in the early 2000s, FLIR transitioned from component assembly to camera production under the leadership of Tiit Tallo. The company’s efficiency-driven approach allows it to remain cost-competitive among many international divisions and continue to thrive in the Estonian business environment. Their cutting-edge designs, work with universities and contribution to the progress of Estonian engineering have been recognised and admired by the judges.
The Exporter of the Year 2023 is Silen, which produces award-winning quiet rooms used by global top players such as Spotify, Amazon and Volkswagen. The jury highly appreciated their swift expansion to foreign markets, comprehensive and continuous product development and strong branding.
Innovator of the year 2023 is Icosagen Cell Factory, which focuses on developing and commercialising cell-derived biopharmaceuticals and is preparing to launch a new production facility in Tartu. Icosagen’s powerful team, international-calibre research and development partnerships earned high praise from the jury.
The sustainable company of the year 2023 is A. Le Coq. The company boasts the broadest product portfolio in the Baltic Sea region beverage industry. The jury praised its dedication to sustainability and social responsibility.
The tourism promoter of the year 2023 is HMP Hotels, which operates the Radisson Collection hotel. The jury highly appreciated that a thorough renovation of the hotel that was undertaken during the pandemic. This project set a new quality standard for the industry and attracted international business tourists to Estonia.
Family Business of the Year 2023 is MRPEasy, which builds AI-powered MRP systems for small manufacturers. The jury noted the company’s impressive growth rate, global reach, and successful blending of generational knowledge among family members.
The most competitive industrial company of the year is Ericsson Eesti. Ericsson is an international network and telecommunications company, whose Estonian branch develops and produces communication network base stations and creates innovative communication software solutions. More than 1,800 people work in the Estonian unit, nearly a third of whom are involved in research and development activities. Ericsson also plans to establish a new technology hub in Estonia. The facility, valued at approximately €155M, will serve as a key centre for Ericsson’s smart manufacturing operations in Europe.
The most competitive trading company of the year is Orlen Eesti. Founded over a century and a half ago in Central Europe, Orlen is now the largest fuel company in the region. Since 2003, its Estonian unit began focusing primarily on fuel wholesale and now reigns as the largest fuel supplier in the country.
The most competitive service company of the year is Admiral Markets. It is one of the most international financial technology companies in Estonia, which operates under the Admirals brand and offers a platform for currency and metals trading and investment opportunities. Headquartered in Estonia, Admirals has physical offices in 18 countries and clients in 150 countries, being represented on all continents.
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