Estonia, Forum, Good for Business, Innovations, Technology, Transport

"Such international recognition boosts Estonia's reputation as a great location for creating influential technology companies. The success of Bolt and Transferwise encourages new entrepreneurship and shows the world that this is a good place for taking the next step with one's startup," Sten Tamkivi, vice president of the Estonian Founders Society, said.

The Europas Awards, originally formed in 2009 by Techcrunch editor-at-large Mike Butcher, is an annual event aimed at recognizing and celebrating the innovation emerging from Europe's burgeoning tech startup scene. This year's finalist also included Estonian companies Veriff and Startup Wise Guys.

The Estonian Founders Society consists of over 100 active entrepreneurs, including founders of Bolt, Funderbeam, Jobbatical, Lingvist, Monese, Pipedrive, Skype, Starship, Toggl, Topia, TransferWise, Veriff and many others.

The goal of the Estonian Founders Society to boost local startup community, strengthen direct relationships between founders, meet face to face in a social setting, share experiences and empower new young founders.

Active startups in Estonia, which numbered 1,019 in the first quarter of 2020, earned in total 196.5 million euros in sales revenue and paid 25.4 million euros in labor taxes during the said period.  Over the past four years, Estonian startups have attracted over one billion euros in foreign investments while the sector has grown 30 percent each year over the past five years.