Estonia – the environment of continuous financial IT innovation
e-Estonia:
Early adopters
! 100% of schools and government institutions have broadband connection
! 68% of households have broadband connection (Statistics Estonia 2011)
! 98% of bank transfers are made electronically
! 92% of income tax returns are submitted via the e-Tax Board
! 1,163,917 active ID cards
! Digital signature legislation
Source: Eurostat
96%
94%
92%
90%
87%
87%
87%
84%
82%
73%
0% 20% 40% 60% 80% 100% 120%
Finland
Sweden
UK
ESTONIA
EU 27
Czech Republic
Lithuania
Hungary
Latvia
Poland
Enterprises with fixed broadband access 2011
86%
81%
81%
67%
66%
63%
61%
61%
59%
57%
0% 20% 40% 60% 80% 100%
Sweden
Finland
UK
EU 27
ESTONIA
Czech Republic
Poland
Hungary
Latvia
Lithuania
Households with fixed broadband access, 2011
Efficient place to do business
Source: World Bank Group Source: Wall Street Journal; The Heritage Foundation
! Estonia is consistently ranked by IMD, World Bank and the World Economic Forum
as one of the easiest and most efficient places to do business in the world
! No 17 out of 181 economies in ease of doing business. Transparent
regulations, easily understandable taxation systems, readily available credit, etc.
! Country’s credit ratings
! Fitch A+
! S&P AA-
! Moody’s A1
! Member of the European Union, eurozone, OECD, Schengen area and NATO
4 5
13 14 17 18
22 23 24
46
63
70
Ease of doing business
rankings 2011
9
14 16 17
20 22 23 24
28
51
56
68
Index of economic freedom
rankings 2011
One of the safest places for banking IT
! Very high cyber security level
! Safe to operate, safe to share information, high knowledge of cyber security
! In comparison with the other 58 countries included in the IMD world
competitiveness survey, Estonia is ranked seventh in cyber security
! In 2008, the NATO Cyber Security Centre was established in Estonia
! In 2011, the European Union IT Agency was established in Tallinn
Source: The IMD World Competitiveness Yearbook 2011
7.26
7.22
7.13
6.95
6.29
5.84
5.58
5.36
4.34
0 2 4 6 8
Finland
ESTONIA
Sweden
Lithuania
Germany
Czech Republic
UK
Poland
Hungary
Rate of cyber security
Testimonials
Symantec is a world leader in cyber security and employs 120 people at its research centre
in Tallinn, Estonia.
“Without a doubt, Estonia is a leader on these subjects [IT and cyber security issues], not only in the
Baltic region but in the broader area of Europe.”
“Estonia is highly developed when it comes to the use of online applications and the use of the
Internet […] Estonia is a natural fit for Symantec as an anchor for our operations, not only in
Estonia but throughout the Baltic region.”
John Thompson, Chairman, Symantec Corporation
In 2008, the NATO decided to establish its Cooperative Cyber Defence Centre of
Excellence in Tallinn, Estonia. The centre conducts research and training on cyber warfare.
“Estonia has shown that it is not the matter of the size of the defence forces, but the level of
special capabilities, that shows their role in enhancing NATO’s defensive capabilities. We appreciate
Estonians initiative in the field of cyber defence.”
Koenraad Gijsbers,
Major General, NATO
The strength of Skype - and perhaps the strength of Estonian IT - is that its
hallmark is simple efficiency. It is not burdened with layers of cumbersome
management or formalities. “Before I came to Skype,” says former Skype’s Chief Evangelist
and General Manager of the Tallinn office, Sten Tamkivi, “I used to bid against a lot of
western European companies for jobs. They would offer a three-layer project organisation
with complicated reporting structures. We’d put four guys in a room and get the job done.”
In four short years, Skype’s user base has grown from 54 million users to 520 million. Skype
has offices in Tallinn, London, Luxembourg, Stockholm, Prague, San Jose, Sao Paulo, Hong
Kong, Tokyo, and Tartu, a university town of 100,000 in Southern Estonia. Still, the
majority of Skype’s staff is Tallinn-based. Among Skype’s slightly over 300 Tallinn
employees, 24 different nationalities are represented.
Sten Tamkivi, Former Skype’s Chief Evangelist and General Manager of the Tallinn office
Additional information and video interviews
Success stories
Contacts Mr. Tanel Kõrvel FDI Project ManagerEstonian Investment Agency / Enterprise Estonia Phone: +372 6279 525 Mobile +372 5305 4221 email: [email protected] Mr. Andrus Viirg Director Enterprise Estonia Silicon Valley email: [email protected]
www.investinestonia.com