Good news for late bloomers in the Estonian startup ecosystem — the nomination period for the Estonian Startup Awards 2024 has been extended until December 20th.
Now in their sixth year, the Estonian Startup Awards celebrate startups, founders, and ecosystem builders who are putting Estonia on the global innovation map. This year’s awards feature 11 categories across main and special recognitions:
Main Categories:
- Founder of the Year
- Investor of the Year
- Newcomer of the Year
- Revenue Hack of the Year
- Giving Back Powerhouse of the Year
Special Categories:
- FinTech
- DeepTech
- GreenTech
- DefenceTech
- Hardware
- SaaS
A special shout-out goes to the DeepTech and DefenceTech sectors, which are experiencing a boom. Estonia aims to boost its DeepTech sector through an action plan developed by Startup Estonia and the Ministry of Economic Affairs. The initiative targets doubling DeepTech projects by 2025 and achieving 500 DeepTech startups by 2030, a fivefold increase from current levels. The government also recently pledged up to €2M available per project for companies pushing technological boundaries.
When it comes to defence, Estonian advances in AI-powered systems, drones, and other solutions draw international attention with high-profile visits, pitching contests, and funding. Again, the state supports fostering the sector: this year, Estonia doubled the Defence Industry Fund to €100M for direct investments in companies that develop or produce products and technologies for military use.
The overall numbers for 2024 tell a compelling story: so far, Estonia’s startup sector continues to punch above its weight, with 1,608 active startups generating €2.7 billion in turnover by Q3 2024, a 10% increase from the previous year.
Next steps
The winners will be selected through a peer-review process in January 2025, with an independent jury of Estonian founders casting their votes.
The grand finale—the annual awards gala—will take place on January 23rd, 2025. At this event, the startup community will gather to celebrate their collective achievements and inspire the next generation of founders.
Want to nominate a startup that’s been eating challenges for breakfast? Submit your nominations here before December 20th, 2024.
Ready to invest instead? Send us a request for 1:1 e-Consulting to get started.
