Estonia — Top Startup Nation

On August 29, 2003, six people from Estonia, Sweden and Denmark launched a new product in Tallinn. On its first day, 10,000 people downloaded it. Few months later, it had a million users. Twelve years later, it is used by 300 million connected users around the world. The product is called Skype.

Estonia’s startup success started with Skype in 2003. Although the initiative to set up Skype came from two Scandinavian entrepreneurs, its software was written by three Estonian developers — schoolmates Ahti Heinla, Priit Kasesalu, and Jaan Tallinn. This was the first time that a truly global multinational startup was being created and nurtured from this relatively small country and therefore it had an enormous impact on the Estonian startup ecosystem — fast forward 17 years and Estonia is the world’s top startup nation.

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Ritva is a financial investment platform established in Tallin, Estonia. Website: ritva.com; Email: support@ritva.com