Estonia, Finland, and Sweden aim to attract deep tech research and business teams to their region. By working together, they hope to compete with major markets in America, Asia, and Europe. At the Latitude59 tech event in Tallinn, representatives from Estonia, Finland, and Sweden discussed the future of deep tech in the region. The panel, titled “It’s About Time to Deep Tech! Vision: Nordic Tech Valley,” highlighted the need for Nordic countries to unite and compete on a global scale.
Matti Hautsalo, Founding Partner of Nordic Science Investments, Eve Peeterson, Head of Startup Estonia, and Katarina Brud, Director of Sweden’s MobilityXlab, have all agreed that small nations must collaborate to make a global impact.
The Power of Collaboration
The panellists highlighted that global competition for talent and resources is growing. The Nordic and Baltic regions, with a combined population of 33 million, can make a significant impact by working together. Hautsalo noted that international capital is more interested in the region as a whole rather than individual countries. He stressed the importance of agile governments and active private sectors in driving innovation.
Estonia’s Deep Tech Ambitions
Estonia aims to have 500 deep tech companies operating by 2030. Clara Chen, co-founder of the Singapore Deep-Tech Alliance, shared Singapore’s success story, emphasizing the importance of cross-border cooperation. Unlike software solutions, deep tech requires significant capital and collaboration with the private sector and large corporations.
Building a Collaborative Ecosystem
The panel concluded that the Baltic and Nordic countries need a collaborative approach to become an international tech hub. Combining experience and best practices will attract international capital and talent. Peeterson pointed out that Estonia lacks qualified labour with highly specialized skills, making collaboration essential. Brud added that each country in the region has different strengths, and they should join forces to nurture deep tech startups.
Making Cross-Border Initiatives Visible
Peeterson acknowledged that while cooperation is already happening, it often seems invisible, especially to newcomers. She stressed the need to create a coherent big picture and make cross-border initiatives more visible. This approach will help attract international talent and improve access to capital for high-tech startups.
A Unified Effort for a Stronger Future
They all agreed that attracting world-class talent and improving access to capital are crucial for creating a successful tech hub. The desire for cooperation is strong in the Nordic and Baltic regions, and understanding its importance is growing at different levels. Despite Europe’s progress, the region must move faster to keep up with global developments.
Estonia’s Role in Global Cybersecurity
Meanwhile, Estonia has invited countries worldwide to join the fight against cyber threats. Minister of Defence Hanno Pevkur emphasized Estonia’s experience in cybersecurity and its willingness to collaborate with other nations. Estonia has built a strong reputation in cybersecurity, facing numerous cyber-attacks and learning to defend itself effectively.
The Cyber Defence League
Estonia’s Cyber Defence League is a special organization that includes volunteers who help protect the country from cyber-attacks. These volunteers are not just military personnel but also regular citizens and experts in the field. Countries like the United States, Japan, and many European nations are eager to learn from Estonia’s experience.
Global Partnerships for Stronger Cyber Defences
Visiting experts from around the world work alongside local professionals in Estonia, participating in joint exercises that simulate cyber-attacks. These activities help improve skills and strengthen cyber defences. The knowledge shared in Estonia benefits not only the country but also all participating nations.
A Step Towards a Safer Digital World
Minister Pevkur’s invitation to collaborate marks an important step in building a global network against cyber threats. By working together, countries can better protect themselves and each other from potential cyber-attacks. Estonia may be small, but its contribution to global cybersecurity is significant, helping create a safer digital world for everyone.