Estonian Startup Database News Today

Even though the total amount of investments in Estonian startups has decreased, they have generated over €1 billion in turnover, employ nearly 10,000 people and have paid €108 million in employment taxes.

The turnover of Estonian startups exceeded the two billion euro mark in 2022, increasing by half over the year.
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As the most entrepreneurial European country for tech startups, Estonia continues to dominate the State of European Tech 2021 report by Atomico.

Estonian startups paid €40 million in employment taxes in the first quarter of 2022, generated €417 million in turnover and raised €907 million in investments; the 1,363 startups in the Estonian Startup Database offer almost 9,000 jobs.

A weekly round-up of all the major news events which have taken place in Central and Eastern Europe and Central Asia over the past seven days, including news yet another parliamentary election in Bulgaria - the third this year.

According to a recent analysis commissioned by Startup Estonia and the Estonian e-residency programme, almost one third of Estonian startups – 348 out of 1,200 companies from Estonian Startup Database – have been founded by e-residents; most of these startups focus on business software development and fintech solutions.

The aggregate turnover of Estonian startups was €255 million in the first quarter of 2021, having increased by 26 percent year-on-year; startups also attracted a total of €194 million in investments, which is about 18 times more than in the same period last year. According to the Estonian Startup Database, there were 1,144 startups in Estonia at the end of the first quarter of this year, and 21 new startups were established in the same period of time, Startup Estonia said. The manager of St...