Estonia, known as Europe’s leader in startups and unicorns per capita, is setting ambitious goals to solidify its position as a global hub for DeepTech. The country has laid down an action plan to reach 500 DeepTech startups by 2030, along with dozens of scale-ups.
DeepTech refers to technologies based on scientific research and engineering innovations, such as artificial intelligence, machine learning, robotics, and biotechnology. These cutting-edge technologies have the potential to revolutionize industries and drive economic growth.
Estonia’s thriving startup ecosystem, supported by a digital-first government and a highly skilled workforce, has already produced several successful DeepTech companies. Currently, there are 1,447 startups in Estonia, out of which 119 registered deep technology as their field of activity. Some of the well-known successes include Starship Technologies, Milrem Robotics, Comodule, and LightCode Photonics.
The action plan aims to build on Estonia’s existing strengths and create a favorable environment for DeepTech startups to flourish. It includes initiatives to attract foreign investments, foster collaboration between academia and industry, and provide support for research and development.
One of the key pillars of the action plan is the establishment of specialized DeepTech hubs across the country. These hubs will serve as innovation centers, bringing together startups, investors, researchers, and industry experts. They will provide a conducive ecosystem for knowledge sharing, networking, and access to funding.
Furthermore, the government plans to introduce targeted policies and incentives to attract international talent and encourage entrepreneurship. Estonia’s e-Residency program, which allows non-residents to establish and manage businesses online, will be further promoted to attract foreign entrepreneurs.
The action plan also emphasizes the importance of collaboration between startups and traditional industries. By fostering partnerships and knowledge exchange, Estonia aims to leverage the expertise of established companies to drive innovation and create new market opportunities.
With its focus on DeepTech, Estonia aims to position itself as a global leader in areas like artificial intelligence, cybersecurity, and clean technology. The country’s digital infrastructure, including its advanced e-governance systems and digital identity solutions, provides a solid foundation for the development and adoption of DeepTech.
By reaching its goal of 500 DeepTech startups by 2030, Estonia aims to attract more international investments and talent, creating a vibrant ecosystem for innovation and entrepreneurship. The country’s ambition to become a global hub for DeepTech is not only a testament to its entrepreneurial spirit but also a reflection of its commitment to harnessing the power of technology for societal and economic progress.
FOOTNOTE: The action plan document is available (in Estonian) here