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Chapter 2022 of the Estonian startup sector has been published by Startup Estonia

The Estonian Startup Database is home to 1444 startups, with 98 new startups created so far in 2022 and 2023.

Turnover grew 49% from 1,4 B to 2,1 B EUR, the employment rate by 22% and employment taxes by 47% from 2021, employing now 9954 people locally. Funding deals marked the line of 1,3 B EUR with a growth rate of about 40% compared to the previous year.

According to the Estonian Tax and Customs Board statistics, Estonian startups employed 9954 people locally at the end of 2022. A year ago, the employee count was 8187, meaning the yearly growth was 22%.

With the help of the startup visa programme launched in 2017, over 5454 visas and residency permits have been issued, 4477 of which were assigned to employees and 977 to international founders.

Access to full report: https://lnkd.in/g7pct6mZ

The State of Dutch Tech 2023 report has been released by Techleapnl. Here’s what you need to know:

The Amsterdam-Delta is the top-ranked startup ecosystem in the EU. According to Startup Genome, the Amsterdam-Delta region has overtaken Paris and Berlin as the leading ecosystem in the EU.

Regional diversity is a strength, if sufficient scale and density can be achieved through connections and clustering.

Fintech and healthtech are the leading startup sectors in the Netherlands.

Dutch scientific research is driving promising deeptech ventures with potential for societal and economic impact.

135,000 employees are working at startups, scaleups, and grownups in the Netherlands.

10% of tech founders in the Netherlands have a migrant background, and the sector attracts more foreign talent than other sectors.

Download the full report  https://hubs.li/Q01CyJdk0

In 2022, 1 billion 593 million dollars were invested across 300 deals in seed, early and later VC stages in Türkiye.

If you want to invest in Turkish startups, let’s deep dive into the Turkish startup ecosystem with Studio10x.
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As Netherlands targets to be net zero by 2050 and Turkey to be 2053, there are many potential opportunities can both countries benefit between each other to decarbonize Steel and Iron industry. According to World Steel Org (2021) some of the important facts about Turkey compared to EU and world as below:

– Biggest steel producer in EU
– 7th biggest steel exporter in the world.
– Biggest ferrous steel scrap importer in the world
– Higher utilization of electric for crude steel production than EU average

There is no silver bullet to decarbonize the manufacturing of iron and steel. Several transformation projects ongoing for Blast, Oxygen and Electric Arc Furnaces. Increase use of electricity while blending more hydrogen, natural gas will eventually lower the use of coal.

CCUS (Carbon Capture, Utilization, and Storage) project development will lower the carbon footprint of produced materials. In order to lower level cost of steel, an average of $6 Billion/yearly investment needed to reach 2050 targets.

According to IEA Steel and Iron report, one of the decarbonization the pathways is to utilizing more Scrap in Electric Arc Furnaces route which could be perfect match to benefit both countries to bridge innovation.

As can be seen below chart steel industry hydrogen demand will increase substantially by 2050. The additional investments and systems improvements needed to sustain the targets.

We can provide the services to transition net zero as below:

For Startups;
-Accelerate startup’s both technology and investment readiness level
-Improve the sales strategy for a better market product fit to scale in target countries.
-Use our network for collaboration and development of the product.

For Corporates;
– Pull innovation from startup ecosystems and tailor it for implementation.
– Cost reduction via value engineering for greenfield investments.
– Grid connection and optimization studies for high current demand extensions/new builds due to Harmonics/Flicker problems.
– Reliability assessment studies for optimum Grid connection.
– Venture building strategy roadmaps to scale in-house.

Get in touch with us to see which services we can provide.