{"id":15674,"date":"2024-09-15T07:00:25","date_gmt":"2024-09-15T07:00:25","guid":{"rendered":"http:\/\/TheNextWeb=1410215"},"modified":"2024-09-15T07:00:25","modified_gmt":"2024-09-15T07:00:25","slug":"science-is-breeding-a-new-generation-of-booming-deeptech-startups-in-estonia","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=15674","title":{"rendered":"Science is breeding a new generation of booming deeptech startups in Estonia"},"content":{"rendered":"\n

Back in the early 2000s, Estonia was rapidly modernising, shaking off the <\/span>remnants<\/span> of Soviet influence. It was <\/span>ambitiously<\/span> transforming itself into a <\/span>digital<\/span> society with innovations such as <\/span>e-government<\/span> and online voting. <\/span><\/p>\n

And, of course, it gave birth to Skype, the company that would launch the small Baltic nation\u2019s journey towards becoming a startup powerhouse and a \u201c<\/span>unicorn country<\/span><\/a>.\u201d<\/span><\/p>\n

Since then, Estonia has established itself as a leader in breeding high-profile software companies, such as Bolt and Wise. Now, it\u2019s aiming to become a deeptech hub, accelerating the development of research- and science-based entrepreneurship.<\/p>\n

Deeptech in Estonia is still relatively young. As many as 70%<\/a> of the companies have emerged over the last five years.<\/p>\n

Nevertheless, the sector is growing quickly. In 2023, deeptech startups<\/a> reached a record \u20ac227.2mn<\/a>in turnover \u2014 a 14% increase from the year before. They also raised \u20ac394mn, rising from \u20ac254mn the previous year.<\/p>\n

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As we wrapped up our incredible 2024 edition, we’re pleased to announce our return to Amsterdam NDSM in 2025. Registration now!<\/p>\n

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Towards a deeptech hub<\/h2>\n

The Estonian government\u2019s vision is for deeptech companies to account for about 30% of the country\u2019s total startup volume by 2030. This translates into 500 deeptech startups \u2014 up from 132 in 2023.<\/p>\n

One key component of Estonia\u2019s action plan<\/a> is to facilitate further access to funding<\/a>, mainly in the form of grants and angel investment, especially for early-stage businesses.<\/p>\n

Another is boosting entrepreneurship within academia with dedicated courses for students. Equally important is ensuring a smooth spinout process.<\/p>\n

According to Sten Tamkivi, early executive at Skype and partner at VC firm Plural<\/a>, the Tallinn University of Technology (TalTech) and the University of Tartu have both taken active steps in the past years.<\/p>\n

\u201cThey have created their own venture arms and they have made sure that the spinout IP and equity process is easier,\u201d Tamkivi tells TNW.<\/p>\n

A third component are the their startups themselves \u2014 and their ability to turn scientific advancements into commercial products.<\/p>\n

Cosmic rays for 3D scanning<\/h2>\n

Tallinn-based GSCAN is using muon tomography for 3D scanning and chemical composition analysis.<\/p>\n

Muons are subatomic particles that make up half the cosmic radiation reaching the Earth\u2019s atmosphere.<\/p>\n

GSCAN collects muons with its proprietary detector technology, which combines the use of AI<\/a> to measure the flux of muons when penetrating an object, to create 3D visualisations, and analyse the materials.<\/p>\n

\"Muon
GSCAN\u2019s system is modular and can see through every material up to 20 metres in thickness. Source: GSCAN<\/figcaption>