Sector insights — Startup Estonia

There are around 990 startups in Estonia that we are aware of. 2019 statistics show that Estonian startups continue to perform well. We see significant growth in all employment related numbers. During 2019 60 new investment deals were made in total in the amount of 204,9 M EUR.

AdTech & Creative Tech

Sector covers technologies used in advertising, marketing, media, entertainment, and creative industry. It captures different types of analytics, monitoring and digital tools and systems used in the context of advertising and marketing. Here, we also count startups, containing technologies that use manufactured or created components to enhance or make possible any sort of entertainment experiences (including events and its management tools) and which disseminate, store or produce media (including TV & film) content. Creative technology encompasses art, fashion, digital product design, digital media or advertising and media made with a software-based, electronic and/or data-driven engine.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

290

Turnover

66 392 464
€

Advanced Manufacturing & Industry

It is a broad set of enabling technologies, processes and practices that businesses from a wide range of sectors can adopt to improve their productivity and competitiveness. Advanced manufacturing involves smart technology to improve traditional manufacturing of products and/or processes. It also includes fields like industrial robotics, additive manufacturing, 3D printing, advanced materials, industry 4.0, nano-materials and industrial IoT.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

88

Turnover

3 902 036
€

AgTech & FoodTech

Sector covers technologies used in agriculture, forestry, fishing, hunting, animal husbandry, food and beverage fields, horticulture, and aquaculture with the aim of improving yield, efficiency, and profitability through information monitoring and analysis of relevant indicators such as weather, pests, and soil and air temperature. Also, scientifically-driven farm practices, equipment or processing including bio-engineered, transgenic crops, proprietary breeding, GPS, water management and improved equipment, conservation-based best management practices, food manufacturing and related advancements. Food technologies consists any technology applied to the production, selling (including supply chain and distribution), or serving food and beverage.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

106

Turnover

5 288 695
€

Business software & HR

A broad set of softwares and services that are designed to integrate multiple facets of a company’s business through the interchange of information from various business process areas and related databases. The sector also includes technology and software to provide legal services. Business software aims to improve the enterprise's productivity and efficiency by providing business logic support functionality. Services provided by enterprise software are typically business-oriented tools, such as business and project process management and resource planning, documentation management, human resource management, collaboration, payment and billing systems.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

1163

Turnover

107 317 969
€

CleanTech

Clean technology is an umbrella term which is used to define technologies which optimize the use of natural resources, produce energy from renewable sources, increase efficiency and productivity, generate less waste and cause less environmental pollution. CleanTech is comprised of sustainable solutions in the fields of energy, water, transportation, agriculture and manufacturing, including green technologies, smart city solutions, advanced material, smart grids, water treatment, efficient energy storage and distributed energy systems.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

221

Turnover

24 015 085
€

Communication

Sector covers technologies used to create, store, transmit, or share information. It includes telecommunication, communications equipment and services, networking solutions and services (also social media and social networking) and internet technologies. Telecommunication is the transmission of signs, signals, messages, words, writings, images and sounds or information of any nature by wire, radio, optical or other electromagnetic systems.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

147

Turnover

11 376 083
€

Consumer products and services

Consumer products and services are electronic or digital equipment, software and services intended for everyday use, including smart devices and software used for entertainment, communications and home-office activities. It includes consumer electronics and home electronics. Apart from traditional consumer electronic products like TVs, smartphones, it includes consumer IoT, AR/VR devices, fitness and wearables, consumer drones, consumer robots, consumer hardware, among others.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

80

Turnover

4 874 162
€

CyberTech

Cybersecurity is the body of technologies, processes, and practices designed to protect networks, computers, programs, and data from attack, damage, or unauthorized access. It includes application security, information security, network security, disaster recovery, business continuity planning, operational security, and end-user education.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

514

Turnover

31 069 965
€

DeepTech & SpaceTech

Technologies that are based on tangible engineering innovation or scientific advances and discoveries. It includes space technologies and robotics. DeepTech companies often possess fundamental and defensible engineering innovations that distinguish them from those companies that are focused on the incremental refinement or delivery of standardized technologies or only use business model innovation to create opportunities. DeepTech can span across many technological areas and can impact diverse applications. Space technology includes spacecraft, satellites, space stations, and support infrastructure, equipment, and procedures.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

300

Turnover

21 867 303
€

EdTech

Education technology generally describes the digitization of education services and business models. Education technology refers to an area of technology devoted to the development and application of tools (including software, hardware, and processes) intended to redesign traditional products and services in education. It includes software providers or vendors delivering technology solutions to schools at all levels and new and emerging models of delivering better and smarter learning.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

124

Turnover

5 426 722
€

FinTech

Financial technology describes the evolving intersection of financial services and technology. It aims to improve existing processes, products, and services in the financial services industry (including insurance) via software and modern technology. Anywhere technology is applied in financial services or used to help companies manage the financial aspects of their business, including new software and applications, processes and business models. FinTech products and services can be found within retail, corporate and investment banking, asset management, transaction banking, insurance, crypto finance and several others.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

1633

Turnover

47 050 554
€

Gaming

Gaming involves the development, marketing, and monetization of video games and gambling machines, as well as associated services. Gaming is the running of specialized applications known as electronic games or video games on game consoles like Xbox and PlayStation or on personal computers or mobile phones. Mobile gaming overtakes console and PC gaming to become the largest segment. eSports is one of the fastest growing segments.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

228

Turnover

26 115 368
€

HealthTech, Life sciences & Wellness

Sector uses digital technology to maintain or improve health via the diagnosis, treatment, and prevention of disease, illness, and injuries. It also covers occupational health and safety, sport, welfare and elderly care technologies. Sector includes drugs, medical technologies like diagnostics, monitoring and other devices (e.g. catheters, stents, etc.), hospital and physician costs, dental costs, home health care, unreimbursed insurance, and some other expenses related to healthcare. Overall physical wellness encourages the balance of physical activity (sport and fitness), nutrition and mental well-being to keep body in top condition.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

176

Turnover

8 356 276
€

PropTech & Construction

Property technology is the use of information technology to help individuals and companies research, buy, sell and manage real estate. These technologies include property management using digital dashboards, smart home technology, research and analytics, listing services/tech-enabled brokerages, mobile applications, residential and commercial lending, 3D-modeling for online portals, automation, crowdfunding real estate projects, shared spaces management, as well as organising, analysing, and extracting key data from lengthy rental documents. Construction technology refers to the collection of innovative tools, machinery, modifications, software, etc. used during the construction phase of a project that enables advancement in field construction methods, including semi-automated and automated construction equipment.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

59

Turnover

1 140 603
€

Transportation & Logistics

Transportation and logistics technology refers to tools and machines used to solve problems or improve conditions in respect to the movement of people and goods. It includes new transportation technologies such as intelligent transport systems (ITS), connected and autonomous vehicles, alternative fuels, keyless fleet management and traffic analytics and management, as well as local zoning and planning policies that support transit-oriented development. Logistics technologies help to manage the process of planning and executing the efficient transportation (including shipping) and storage of goods from the point of origin to the point of consumption. It includes machine-to-machine connectivity, radio frequency identification (RFID), automatic identification and data capture (AIDC), and Internet of Things (IoT).

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

719

Turnover

25 501 393
€

TravelTech

Travel technology consists technologies used in the travel, tourism and hospitality industry. Some forms of travel technology are flight tracking, trip planning, journey planner, booking price tracking and so on. Travel technology also include virtual tourism in the form of virtual tour technologies, analysis, design, implementation and application of IT and e-commerce solutions in the travel&tourism industry, as well as the analysis of the respective economic processes and market structures and customer relationship management.

Startups in this sector

Stats updated

I-IV quarter 2019

Employees

31

Turnover

2 083 955
€