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Foreign Investor of the Year 2020, Ericsson Estonia: We are helping to bring Estonian expertise to the world

Winning the Foreign Investor of the Year award in Entrepreneurship Awards 2020 has brought a great deal of positive attention to Ericsson Estonia, while also entailing a wider impact on Estonia at large.

According to the Chairman of the Management Board of Ericsson Estonia Andrus Durejko, the company has been busy in spite of the impact of the coronavirus crisis. “Nowadays, it is not exactly appropriate to say that we are doing well, but we enjoy our work and have managed to keep the company running even during the pandemic,” says Durejko contentedly.
The Foreign Investor of the Year award was not Ericsson’s first: the company was also awarded the main prize in 2010.

As a result of the category win, Ericsson Estonia has made four key observations. “Firstly, our company employs 2200 people and this kind of acknowledgement makes them happy, and many years of their work has been recognised. “The significance of this is also confirmed by the fact that the proposal to apply actually came from the staff, not the management,” stresses Durejko.
Secondly, Ericsson Estonia is an international company that often hosts guests and partners from other countries. According to Durejko, they are frequently asked advice or background information on the Estonian entrepreneurship environment and the number of such queries has grown after the award win.

The buzz of the competition also brought along greater publicity, which helped to better explain Ericsson Estonia’s field of activity. “People already know now that Ericsson Estonia no longer assembles mobile phones, instead it is now a place where high-tech communications solutions are born,” explains the CEO of Ericsson Estonia. “There is a great interest in the manufacturing of our 5G devices and this has also made the expansion of the development centre easier – over 3-4 years, we have hired over 500 engineers and we can proudly assure that you cannot find another development centre such as this from any neighbouring country.”

Last but not least, Ericsson also appreciates the responsibility that comes with the Foreign Investor of the Year title. “We have involved a lot of local partners in our development projects, helping to bring Estonian expertise to the world. Our shared success has a much broader impact on Estonian export than our own sales numbers. Everybody wins!”.

Competition presents a good opportunity to compare yourself with others

The marketing of a specialised company with a global reach such as Ericsson is different from that of regular companies. The recognition has been reflected in the marketing materials, but the clients of Ericsson Estonia mainly include mobile network operators, who are reached in different ways.

Durejko remains silent on the topic of further application. “We will likely decide on the basis of what we have to offer,” remarks Durejko. “To a degree, application also depends on categories. For instance, Ericsson Estonia does not meet the family company criteria in any way.”

However, Durejko definitely encourages everyone else to apply. “The Entrepreneurship Awards is a very positive initiative by its nature, because you have to exchange experiences and it can be beneficial to compare yourself against others. The recognition and positivity that comes with winning the award provide a good incentive for applying.”

Applications for Entrepreneurship Awards 2021 are open until 5 July. If you are interested in doing business in Estonia, use our unique e-Consulting tool to get started.

The Entrepreneurship Award project is funded by the European Union’s Regional Development Fund.

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