Andrus Viirg - Estonian Tech Ecosystem - Enterprise Estonia Silicon Valley - Stanford Engineering - Mar 2 2015

Estonia  www.estonia.eu  

     Andrus  Viirg  Enterprise  Estonia  Silicon  Valley  [email protected]  www.inves9nestonia.com    European  Entrepreneurship  and  Innova9on  Thought  Leaders  Stanford  Engineering  March  2,  2015  

ENTERPRISE    ESTONIA  State  founda3on  for    Business  Support  &  Development:  

§  implemen9ng  agency  of  the  EU  structural  funds  in  Estonia  §  ca  270  employees    §  financing  agency  (grants)  for  enterprises,  R&D    and  non-­‐profit  ins9tu9ons  

§  budget    784  mln  EUR  during  2007-­‐2013  §  budget    750  mln  EUR  for  2014-­‐2020    

Investment,  Trade  &  Innova3on  Promo3on  –  assis9ng  interna9onal  companies  to  estonianize  –  assis9ng    Estonian  companies  to  interna+onalize  

–  Foreign    Representa3ve  Offices:    China  (Shanhai);  Finland  (Helsinki);  Germany  (Hamburg);  

           Japan  )Tokyo):  Russia  (Moscow  &  St.  Petersburg);        Sweden  (Stockholm  -­‐  for  whole  Scandinavia);  

   UK  (London);  USA  (Silicon  Valley)  

Republic of Estonia (Eesti) 1918 - 1940 1991 - ..... Member of EU, NATO (2004), OECD (2010) Population: 1.36 million in the EURO zone from Jan.1, 2011 GDP (PPP): 30 billion USD GDP per capita: 22 400 USD (2013)

Photograph:  Minna  Sundberg  

Photograph:  Minna  Sundberg  

Doing  Business  in  Estonia  an  Emerging  (New)  Scandinavia  country  with  a  

strong  and  stable  economy      

•  simple  tax  system    –  flat  20%  income  tax  NO  Corporate  Income  tax  on  reinvested  profits  (20%  tax  on  dividends  only)    

•  efficient  company  setup  and  repor9ng  based  on  e-­‐government  solu9ons  

#1 in EU in the `economic freedom` index by Heritage Foundation & WSJ

# 8 globally #17 globally in the World Bank’s Ease of Doing Business Index

#6 best global location for “trading across borders”.

among the most wired and technologically advanced countries in the world  

Five  Global  Ci9es  of  the  Future:    the  emerging  startup  hubs  for  opportuni9es  to  launch  or  expand  interna9onally  

Tallinn  (Estonia)  -­‐  most  internet-­‐connected  ci9es,  with  a  deep  pool  of  tech  talent  thanks  to  all  the  Skype  alumni  running  around.  

San+ago  (Chili)  -­‐  one  of  the  most  foreign-­‐entrepreneur-­‐friendly  ci9es  

Dubai,  Istanbul  (Middle  East)  –  gateways  to  Modern  Middle  East  

Shenhzen  (China)  -­‐  Silicon  Valley  for  hardware  makers  

Greg  Lindsay,  contribu9ng  writer  at  Inc.  and  co-­‐author  of  Aerotropolis:  The  Way  We'll  Live  Next.  

e-­‐Estonia    Technologically  advanced  business  plaKorms  &  e-­‐Government  services  host  of  NATO´s  Cyber  Defence  Centre    electronic  ID  card    &  digital  signature  from  2002  

 e-­‐Tax  Board,  e-­‐  Land  Register,  e-­‐Business  Register                            e-­‐Police,  e-­‐School,  e-­‐Health,  e-­‐Prescrip9on,  

 e-­‐Vo9ng,...            e-­‐banking:  98%  of  bank  transac9ons  electronically              m-­‐parking  

www.e-estonia.com

*Estonian crowdsourced database

5,690,000 3,958,000 7,304,831

4,315,000

18,530,867

8,154,000

20,700,500

32,354,041

70,805,333

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

2006 2007 2008 2009 2010 2011 2012 2013 2014

Funding of Estonian Startups

Capital from Estonia (EUR) Total raised capital (EUR)

The                                      phenomenon    

Wall  of  Fame  #estonianmafia  

•  Founded  in  2010  in  Tallinn,  Estonia  •  TechStars  Boston  alumni  •  In  2014  acquired  by  the  US-­‐Israeli  provider  of  3D  prin9ng  solu9ons,  

Stratasys  Ltd,  for  around  US$100m  •  In  January  2015,  it  was  announced  that  NASA  uses  online  engineering  

plakorm  GrabCAD  to  design  a  handrail  clamp  assembly  (HCA)  for  the  Interna9onal  Space  Sta9on  (ISS)  that  can  be  printed  on  the  ISS  3D  printer.  

Nothing  to  hide!          Bath4Banks!  

 Investors(raised  72mln  EUR):  a16z,  sir  Richard  Branson,  Peter  Thiel,  Index  Ventures…  SeedCamp  

The  clever  new  way  to  beat  bank  fees  when  sending  money  abroad!  

The  first  UNICORN  

In  2013  we  went  to  space….  

In  2014    we  launched  the  first  

suprana3onal  e-­‐residency  scheme  in  the  world:    

     10  million  e-­‐Estonians  

by  2025?  

e-­‐residency?  Gepng  access  to  the  e-­‐services  available  in  Estonia.  -­‐  Establishing  a  company  online  -­‐  Filing  documents,  reports  and  tax  returns  online  -­‐  Online  par9cipa9on  at  shareholders/board  

mee9ngs  -­‐  Signing  documents  digitally  -­‐  Encryp9ng  documents,  -­‐  Online  banking,….      

Steve  Jurvetson  (DFJ):  `…it  will  be  easy  for  U.S.  startups  to  set  up  their  European  presence..`  

       December  2014  

This  is  so  freaking  huge  man,  it´s  insane!    The  plan  to  let  anyone  become  European  -­‐  digitally  

6th European Sauna Marathon (Otepää,

Estonia)

1  000+  par9cipants:  track  down  and  visit  the  given  Saunas….  

Andrus  Viirg  Enterprise  Estonia  Silicon  Valley  [email protected]  www.inves9nestonia.com