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Winter 2021 issue of Life in Estonia: An extraordinary year for Estonia’s unicorn factory in review

“Whereas every Finn owns a home sauna and every American an iPhone, it may soon be said that every Estonian owns a startup,” Kaspar Kork, Director of Estonian Investment Agency says in the winter 2021 issue of Life in Estonia magazine that focuses on an extraordinary year of 2020 for Estonia’s unicorn factory.

“Ask any young student how they imagine a future career and they’ll most likely say they’d like to be an entrepreneur,” Kaspar Kork, Director of Estonian Investment Agency (Invest Estonia) writes as an introduction to the Winter 2021 issue of the Life in Estonia Magazine. “They relish the thought of risk-taking and creating a better world. They look forward to developing their entrepreneurship in Estonia because they can learn from the best practitioners. The business atmosphere is almost familial; an intimate environment in a small country where nearly everyone knows a successful entrepreneur who might advise them.”

This entrepreneurial mindset of Estonians has given us more than 1,000 startups and 5 unicorns so far, which means that Estonia is the most entrepreneurial country in Europe, with the most unicorns and startups per capita.

  • The cover story is about Estonia’s latest unicorn Pipedrive. The co-founder of Pipedrive Ragnar Sass tells how the company got started, explains why there are so many startup offspring born from Pipedrive, and discusses the challenges in pivoting.
  • Eve Peeterson, Head of Startup Estonia writes on how 2020 has been a year of exits in the Estonian startup ecosystem.
  • Estonian economy has survived the COVID-19 crisis well. Tõnu Palm and Erkki Raasuke from Luminor Bank are explaining, why.
  • Estonian IT companies pivot in the middle of the COVID-19 pandemic and hope for bigger success than ever before.
  • Future banking is modular: Estonian FinTech Modularbank can build you a bank with the exact bits and pieces (modules and features) you need, just like a house built from Lego blocks.

Read the newest issue of Life in Estonia Magazine here:

“Estonia is the best place to build your next unicorn!” Kork adds and encourages both startups and investors to consider Estonia as their next move.

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