The number of startups registered in the Estonian Startup Database now exceeds 1,000, having doubled year over year.
Altogether 81% of the startups registered in the database are operating in Harju County, 13% in Tartu County and 6% in all other counties combined. Startups in Estonia employ over 6,000 people in total, according to Startup Estonia and the state-run financing institution Kredex.
Earlier this year Startup Estonia unveiled a new startup database that provides a detailed statistical overview of the startup companies operating in Estonia.
"The renewed database has been well received by startup entrepreneurs, they are actively entering, updating and using the data. This is important from the perspective of the entire sector's development, because the startups that have joined the database are visible for potential investors, cooperation partners and customers, allowing to monitor the sector's development. Additionally, it sends a clear message that the startup sector is open and transparent," Maarika Truu, manager of Startup Estonia, said.
The database includes startups that have been operating for up to ten years and are oriented towards rapid global growth and whose product or service and business model are globally scalable.
The database includes the name, registry code and year of founding of the startup company, but also information about the sector of activity, technologies used, descriptions of products and services, the number of employees and labor taxes paid, revenue and investments. The data consists of the information entered into the database by the startup itself as well as of information collected by Startup Estonia from public sources and from the Tax and Customs Board.
Startup Estonia is a governmental initiative aimed to develop the local startup ecosystem. Startup Estonia program is carried out by KredEx.