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Estonia stood out positively in the world’s most important survey of startups

15.05.2019

This Friday, the results of the international startup ecosystem survey – Startup Genome – will be presented during the conference Latitude59 at the Tallinn Creative Hub. The survey also included Estonia, which was identified as a strong ecosystem for the development of the financial technology and cyber security sectors.

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Startup Genome: Global Startup Ecosystem Report 2019
Startup Genome: Global Startup Ecosystem Report 2019

The survey, introduced last week in Amsterdam and already this Friday in Tallinn, is deemed the most comprehensive startup ecosystem survey due to its novel and ‘hard’ approach. Its purpose is to highlight the main success factors that make the local startup ecosystem favourable to the development of enterprises.

Although Estonia participated in the survey in a reduced capacity, we were positively acknowledged in two categories. Estonia ranked in the top five when it came to the launching of financial technologies. In addition, Estonia is one of the ten ecosystems with the most affordable talent pool.

According to Maarika Truu, Head of Startup Estonia, participation in these surveys gives a good overview of global trends and also highlights the strengths and weaknesses of the startup ecosystems of countries. ‘Over the past two and a half years, we have grown the total value of our startup ecosystem to nearly EUR 1.1 billion. The startup sectors with the highest potential are financial technology and cyber security. These are sectors where we have witnessed very rapid growth over the past few years. And although it is important to know your competitive advantages, we must make sure that it is good to create and develop startups in all sectors in Estonia.’

Globally, the fastest-growing startup sectors are robotics and developed manufacturing, blockchain technologies, agricultural technology and the food technology sector, artificial intelligence, big data and the analysis sector.

The survey report will be presented within the framework of the conference Latitude59 this Friday, at 13.00, in the terrace hall of the Tallinn Creative Hub.