Factsheet: Growth Strategy

Growth Strategy

Key Information
Description: 
The Estonian Entrepreneurship Growth Strategy 2020 is the most important strategic document on the Estonian economy for the next seven years, focusing on three main challenges in order to increase the wealth of Estonia: increasing productivity, stimulating entrepreneurship and encouraging innovation. We have set quite ambitious targets up to the year 2020: to turn Estonia into the centre of start-ups in the Baltic states, Nordic countries and north-western Russia and to make Estonia the most attractive country for major corporations’ development centres in Europe. After this seven year period, Estonia should be one of the best countries in the world to establish and develop a company. Estonia aims to be a country with a smart economy. Therefore, during the forthcoming seven years the state will focus mainly on areas where co-operation between businesses and researchers has the greatest potential to create added value. The analyses drawn up by the Estonian Development Fund have shown that information and communication technology, health technology and services, as well as the more effective use of resources, are the areas with the greatest growth potential for the Estonian economy. These are the priority development areas to which we will commit ourselves. As one of the innovations in this Strategy we will focus more on the needs of those enterprises that have the greatest impact on the growth of Estonian economy. Approximately 3,700 companies produce a major part of Estonian exports and added value and, keeping them in mind, we are planning to establish a special development programme for these companies. Within this programme the development needs of the companies will be identified and in order to increase their productivity, they will be provided with professional counselling, analysis and support for different projects.
Goal/Aim: 
Economic development

Sector/Topic targeted:

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