The First Half of 2025 for the Estonian Startup Sector: Maturing Through Efficiency and Adaptation
The new half-yearly report on the startup sector for 2025 demonstrates gradual changes in key metrics. On the one hand, the sector shows robust growth, maturity, and further potential. On the other hand, it is shifting toward efficiency, with barely noticeable growth in the workforce for the entire sector and a slight decrease in employee numbers for the youngest startups. The challenges of the national economy, with the GDP having contracted for approximately 2.5 years until the end of 2024 (Eesti Pank, 2025 Q1, Q2) are making new entrepreneurs and investors wary, resulting in fewer new companies and a smaller overall volume of investments. However, the growth of the startup sector isn’t stagnating, as revenue per employee is rising sharply.
Sample
Currently, there are a total of 1,566 startups in the Estonian sector, of which 1,321 (84%) are economically active according to EMTA data; also, about 50 companies are in a problematic state, such as liquidation or bankruptcy. There is a clear trend in the decline of the number of registrations, which has been ongoing since 2022. The startup sector is maturing, though it remains relatively young: the average age of the companies is about 7 years old. Important note: the EMTA data concerns only economically active companies, therefore, according to EMTA the number of people currently employed in the economically active companies of the startup sector is 15 011, while for the Department of Statistics, the number of employees for all companies in the sector is 17082.
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Originally published on 4 Sep
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On 12 March 2025, maritime experts from CBSS Member States will convene online to discuss the priorities and initiatives of the Estonian CBSS Presidency on Green Shipping Corridors and Digital Twins of the Baltic Sea. The meeting is part of ongoing efforts to map current activities on these topics at both national and macro-regional levels in the Baltic Sea Region.
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Originally published on 6 Mar
Lithuania continues to bolster its presence in the international tourism scene, having recently received the prestigious ITB Health Tourism Award 2025. This award, presented by the world’s largest tourism exhibition, ITB Berlin, recognises countries for their achievements in developing health tourism infrastructure, service quality, and international visibility.
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Originally published on 7 Mar
NIB, Luminor Bank and NORD/LB have agreed to co-finance a 148 MWp solar farm in the Ventspils municipality. The project is developed by Stelo Orienta SIA, a subsidiary of European Energy, a Danish renewable energy company.
The overall financing amounts to EUR 68 million. NIB’s EUR 28 million loan is supported by the European Union under NIB’s InvestEU Framework Operation on Clean Energy Transition. This is NIB’s first InvestEU loan in Latvia.
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Originally published on 6 Mar
Akciju Sabiedriba ELKO Grupa (ELKO Group), a region’s leading distributor of IT and consumer electronics products, through its subsidiary Gandalf Distribution AB, has concluded a sales and purchase agreement for the purchase of 78.95 percent of the shares in Renewed AB, a fast-growing Sweden-based electronics recommerce player.
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Originally published on 6 Mar
INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, together with the other shareholders, have completed the sale of InMedica Group, Lithuania’s largest private healthcare network, to Mehiläinen, Finnish largest social and healthcare provider with fast growing international presence
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Originally published on 6 Mar
Stable supply of electricity at affordable prices, achieving full independence of the Baltic Sea region from Russian supplies, as well as clean air, thanks to joint projects for the development of new technologies, including hydrogen, are potential benefits of cooperation between the Baltic countries, according to a new report by the ORLEN Group and S&P Agency. The report assesses the progress of the energy transition in the region and identifies opportunities for collaboration to accelerate decarbonisation efforts. It outlines specific areas of cooperation and their expected outcomes, following an in-depth analysis of conditions across eight countries: Poland, Germany, Denmark, Sweden, Finland, Lithuania, Latvia, and Estonia.
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Originally published on 4 Mar
In response to growing cybersecurity challenges, Latvia has accredited its first professional continuing education programme in cybersecurity—the Cybersecurity Technician programme, which is available at the European Distance Learning Centre. The programme seeks to train qualified cybersecurity technicians capable of ensuring the security of an organisation’s IT systems and data, identifying and responding to cybersecurity threats, and implementing preventive measures to protect IT environments.
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Originally published on 5 Mar
Tallinn’s story of a zero-waste Song and Dance Celebration has won the ITB Earth Award 2025 at the Green Destinations Top 100 Story Awards competition, one of the world’s largest tourism fairs held in Berlin. The award highlights Tallinn’s innovation and commitment to sustainability as a tourism destination.
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Originally published on 5 Mar
Stargate Hydrogen, an Estonian manufacturer of innovative electrolyser stacks and systems, announces the successful completion of its series A funding round, raising 11 million euros in equity investments from strategic customers and financial investors.
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Originally published on 4 Mar
For the fourth time, Työn Taitajat (Talents for the future programme in the city of Oulu) is organizing the World’s Biggest Virtual Company Visit in collaboration with companies promoting the circular economy in Oulu, along with the University of Oulu, Oulu University of Applied Sciences, and Educational consortium OSAO. The event is also supported by the Oulu Circular Economy Cluster, Oulu Innovation Alliance, International House Oulu, and Taikasatukulma.
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Originally published on 4 Mar