Imagine the year is 2035. The average number of healthy life years lived in Estonia has increased by 10 years, placing us among the healthiest nations in Europe. Thanks to extensive innovation, the healthcare system has become efficient, patient-centered, data-driven and prevention-focused. Estonia is globally recognised by founders and investors as the preferred ecosystem for early stage health technology development. We have a rapidly growing, high-value-added, and globally connected health technology sector of 1000+ companies creating several international success stories every year.
Global Challenge
Healthcare systems worldwide are under increasing pressure. Aging population, growing waiting lists, and a deepening shortage of clinicians are putting the accessibility and quality of healthcare services at risk. It is clear that addressing the structural problems in healthcare requires both bold political decisions as well as innovative practical solutions to make the entire system more efficient, effective, and patient-centered.
Opportunity for Estonia
Due to Estonia’s unique experience in digitising healthcare, as well as its dynamic deep tech ecosystem, there is an opportunity to create a one-of-a-kind growth environment for building new science-based health technology companies.
However, looking back at the sector’s development in Estonia over the last 20 years, it is evident that existing technology transfer models have only been able to create a few isolated success stories. Since Estonia has limited experience in commercialising research results and only a limited number of people with the necessary competencies, the sector’s international competitiveness and export capacity are significantly lower compared to neighbouring countries.
For example, compared to Finland, the approximately 2- to 3-fold difference in creating new health technology companies becomes a 15- to 20-fold difference in raising venture capital and nearly a 50-fold difference in export turnover.
Taking Estonian healthtech to the next level
Creating the next generation of Estonian healthtech success stories requires a new operating model for the ecosystem together with programs and support services that address the industry-specific needs of the companies within it.
Instead of focusing only on top-down policies and project-based community initiatives, we need to build a long-term support system for the founders and operators who are bold (and crazy) enough to tackle wicked challenges in the world’s most complex industry.
We invite all stakeholders in the ecosystem – startups, policy makers, healthcare providers, patient organisations, universities and research institutions, accelerators, incubators, investors – to join Health Founders Estonia and contribute to taking Estonian healthtech community to the next level!
