The average number in whole Europe is 5 startups per 100.000 people. Estonia ranks 6x higher than the European average. There are 413 startups in Estonia. The number might seem small but compared to the population, it ends up as 31 startups per 100.000 inhabitants. This places Estonia third in Europe regarding the number of startups per capita.
The country has created an accommodating environment for startups. Registering a new enterprise can be done within 15 minutes and there is no corporate income tax on undistributed profits.
Based on the data provided by Funderbeam team regarding the funding trends in Estonia, the top three industries doing exponentially well compared to the global trends, are Location Services, Engineering & Technology, and Electronics & Hardware. Despite its small population size of slightly over 1.3 million, Estonia’s current generation of entrepreneurs built internationally successful companies like Skype, Pipedrive, Teleport, Skeleton Technologies and Starship Technologies, being the primary drivers behind the top industries’ funding.
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