Enterprise Estonia

Established in 2000, Enterprise Estonia (EAS) is a national foundation that aims to develop Estonian economy through three principal areas of activity:

  • Developing Estonian enterprises and boosting export capacity
  • Increasing tourism revenue
  • Bringing high value-added foreign investments to Estonia

One of the biggest challenges for the Estonian economy is to move from among countries with average added value towards countries with high added value. To this end, Estonian enterprises need to develop more sophisticated products, provide more expensive services, and expand their operations in foreign markets. Therefore, Enterprise Estonia is addressing two major market failures, which are limited product development of enterprises and concentrated exports to a few specific markets. Exporting enterprises serve as the main basis of the Estonian economy, as exports account for 80% of the total output thereof.

The Estonian Investment Agency is primarily focused on attracting development centres, highly automated industry, and smart capital to Estonia. The aim is to seek more foreign investments in Estonian rural areas in order to revitalise Estonian life as evenly as possible.

The tourism economy accounts for nearly 8% of Estonia’s GDP. To ensure the quality and competitiveness of Estonia as a tourist destination, it is important to ensure the comprehensive development of the sector. For this purpose, Enterprise Estonia is engaged in the development and introduction of Estonian tourism products to foreign tour operators, as well as the training of Estonian tourism enterprises. It is also important to promote Estonia as an attractive holiday destination through campaigns and the website of Visit Estonia. 

Our activities contribute to achieving the long-term strategic goals of the Estonian economy and our further aim is to facilitate the process of Estonia becoming one of the most competitive countries in the world.

Our mission

Building a successful Estonia.

 

The objective of Enterprise Estonia for 2019–2023

  Objective for 2023
Number of exporters with high added value during the final year 600 enterprises
Added value created by clients of Enterprise Estonia during the final year 2.1 billion euros
Number of internationally known brands during the final year 20 brands
Foreign investments brought to Estonia with the help of Enterprise Estonia and new jobs created during 2019–2023 cumulatively 1.5 billion euros and 5,000 new jobs
Added value per employee of investments brought to Estonia with the help of Enterprise Estonia during the final year 75,000 euros
Export sales revenue of tourism services during the final year 2.6 billion euros
Added value of tourism companies services by Enterprise Estonia during the final year 138 million euros
Number of overnight stays by Asian tourists during the final year 540,000 overnight stays
Number of international conferences during the final year 100 conferences

1We have used the World Economic Forum analysis where Estonia came to be on the 29th place in 2017, as the scoreboard for international competitiveness.

Following Estonia's accession to the EU, EAS became one of the agencies implementing EU structural funds in Estonia. During the 2007-2013 EU financing period, EUR 784 million (EEK 12 billion) of the more than EUR 3.4 billion (EEK 53 billion) of structural aid to Estonia has been implemented by Enterprise Estonia. In EU's new, 2014-2020 funding period, the budget for Structural Funds is 3.5 billion euros, of which 588.1 million is to be implemented by Enterprise Estonia.

 

Organization

  • Total number of employees is approx. 266.
  • The budget for 2019 is 81.3 million euros.
  • A network in each county of Estonia: a regional representation office in Tartu and Pärnu, along with nearby cooperation partners, regional development centres and tourist information centres.
  • Foreign representative offices in Helsinki, Stockholm, Oslo, Copenhagen, Hamburg, Amsterdam, London, Paris, Kiev, Astana, Dubai, New Delhi, Beijing, Tokyo, Singapore and Silicon Valley.

 

We value

  • Acting wisely
    We are experienced and operate in a transparent manner.
    Keywords: responsibility, quality, accuracy, competence, reliability, thoughtful action, finding straight-forward solutions to complex issues.
  • Creating innovation
    We encourage and propose new initiatives and fresh ideas.
    Keywords: originality, innovativeness, creativity, taking initiative, leadership, new ideas and activities.
  • Result-orientedness
    We focus on activities that create higher value.
    Keywords: conscious, value-raising, targeted.
  • Cooperating with you
    We operate in a joint manner and we are more successful together.
    Keywords: reliability, teamwork, focus on problem-solving, customer-orientation.

 

Strategy

Management

EAS is led by a 3-member Management Board and a Supervisory Board, consisting of the entrepreneurs and officials. 

Additionally, advisory boards consisting of the best experts in each of the areas of Enterprise Estonia’s responsibilities give the organization advice and guidance in return for up to date information on future plans and opportunities.

Management Board:

  • Peeter Raudsepp, Chairman of the Board
  • Sigrid Harjo, Member of the Board
  • Martin Mark, Member of the Board

Chairman of the Supervisory Board:

  • Kersti Männik

Members of the Supervisory Board:

  • Arne Randmaa
  • Jaan Toots
  • Kaia Sarnet
  • Marko Pomerants
  • Rain Epler
  • Viljar Lubi

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