Technology in Estonia (eTestware’s home)
Launched in Tallinn in 2014, eTestware’s core objective is to deliver quality software testing services. Though we have written about our home before, today we look at technology in Estonia in more detail. Our Estonian contingent are an amazing group. Their IT skills are second-to-none, this largely due to their fantastic country. We all love it and hopefully upon reading this, you’ll be able to see why!
One of the world’s premier tech hubs
Estonia’s technology industry has welcomed many companies and investors. Its success is based upon ambitious, long-term strategies, and now the 25 most valuable technology companies are worth an estimated €21 billion. For some context here, Estonia’s national budget for 2021 was €13 billion.
Some key facts:
- Estonia holds many start-up records at world and regional level
- There are currently 1,292 technology start-ups and companies
- In 2021, Estonia led countries including the US and the UK when measured by number of start-ups per 1m inhabitants
Estonian ‘Tech unicorns’ include Skype, Playtech, TransferWise, Bolt, Pipedrive and ID.me. What does Estonia do that others lagging behind it do not? How has this relative ‘minnow’ risen to such significant digital heights?
The Silicon Valley of Europe
The appreciation for technology in Estonia is such that it has earned this moniker. Since 2000, new initiatives designed to encourage people to embrace technology have been regularly launched. Estonia boasts advanced Electronic ID-systems that are widely used in all areas of society – including when voting. Over 99% of all financial transactions are digital. It is even possible to set up a brand-new company in around 30 minutes!
At the same time, Estonia has taken steps to retain tech talent as well as to attract it. Digital nomad visas, competitive tax rates, flexible financing and comprehensive support for start-ups have all contributed towards the delivery of truly amazing results. The evening news is often celebrating these results too, thus helping to further cultivate an entrepreneurial spirit.
Many have speculated that Estonia’s start-up generation is based upon a framework of four key areas:
- A robust ecosystem
- Incredible people
- Flexible capital
- ‘Start-up-friendly’ regulations
Estonia has funds dedicated towards creating local start-up communities. Educational institutions are also crucial in helping to generate new tech start-ups. Estonian people are then also strongly encouraged to attend start-up events. Knowledge sharing is a central strategy and a digitally minded, data-driven approach is prominent. Founders of start-ups are not required to raise the entire amount of capital needed ahead of founding their enterprise. Finally, Estonia has implemented regulatory frameworks which ease the establishment and running of start-up enterprises. An example of this is that annual business tax only applies to dividends, which then eases the financial pressure on start-ups in the early stages.
Technology in Estonia is viewed as being absolutely essential. Our IT experts can certainly agree upon that. As such, so much is done to encourage people to develop tech-related skills. Those wishing to establish tech companies are given full backing to do just that. Once in business, they are then given a lot of help and support along the way. It is therefore easy to see why we chose Tallinn as the perfect HQ for a software testing company. At least, we think it is – what do you think? If you would like to have your say, then we would love to hear from you!
Read other articles on our beloved Estonia:
Thinking about outsourcing your software testing? Or perhaps you need assistance from experts in Quality Assurance (QA)? If either scenario describes you, then we can help. Our HQ is in Estonia and the bulk of our team are there too. As a member of theICEway ecosystem of companies though, our reach extends further into the US, Australia and the UK.
We have been providing outsourced software testing solutions for the best part of a decade. Whilst we have specialised in insurance, travel, healthcare and cruise, we can work in any vertical. We can also tailor our work to completely fit in with your needs. If you are happy to adopt a fully remote working arrangement, then that is fine. If you would like us to join you in your offices, then that is not a problem either. Our goal is a simple one; we want to understand your business and then help you to achieve your objectives.
Our full testing team is from a variety of different backgrounds, but we do like to infuse our methods with learnings from our Estonian contingent. That basically means we aim for maximum efficiency in everything we do!