Entrepreneurship Award 2011

This year marks the 16th time that the best business leaders in Estonia have been honoured with the highest business award in the country. The Business Awards 2011 honoured the year’s best exporter, foreign investor, innovator, tourism innovator, most improved company, as well as the business that made the best use of design.

First off, Enterprise Estonia (which has organized the competition since 2000) and its experts picked a maximum of four of the best companies profiled in the prestigious Estonian and English publication Estonia’s Best Companies 2011. The panel chose the category winners from among the nominees, from whom the overall winner was selected. In 2011, that distinguished title went to Fortumo OÜ, which specializes in mobile payment solutions.

The criteria and categories for the competition are the same as in 2010. The winner is still determined not only on the strength of actual economic results but also according to the subjective assessment of the country’s representatives as to the company’s achievements and future prospects.

The aim of the competition was to introduce the best entrepreneurs, contribute to spreading the entrepreneurial philosophy in Estonia, encourage foreign investors to invest in Estonia, and support the growth and export ambitions of local firms – in short, to contribute to economic growth.

The 2011 jury panel consisted of:

• Andres Lipstok, Governor of Eesti Pank
• Urmas Paet, Foreign Minister
• Andres Keevallik, Tallinn University of Technology rector
• Alar Karis, University of Tartu rector
• Mart Einasto, Enterprise Estonia supervisory board chairman
• Rein Lang, Minister of Culture
• Juhan Parts, Minister of Economic Affairs and Communications
• Seth Lackmann, Ericsson Eesti AS (winner of the 2010 foreign investor category and overall winner)

ENTRERENEURSHIP AWARD 2011
Exporter 2011
Fortumo OÜ
Interview with Rain Rannu
Nominees for the Exporter 2011

Foreign Investor 2011
ABB AS
Interview with Bo Henriksson
Nominees for the Foreign Investor 2011

Developer of the year 2011
LCDVF OÜ
Interview with Tõnis Liivamägi
Nominees for the Developer of the year 2011

Tourismi Innovator 2011
Estonian Road Museum
Interview with Mairo Rääsk
Nominees for the Tourism Innovator 2011

Innovator 2011
ZeroTurnaround OÜ
Interview with Jevgeni Kabanov
Nominees for the Innovator 2011

Design Applier 2011
Krimelte OÜ
Interview with Alar Salum
Nominees for the Design Applier 2011

Overall winners at the Business Awards in the last six years:

• 2010 – Ericsson Eesti AS (also the best foreign investor)
• 2009 – VKG Oil AS (also the best exporter)
• 2008 – ABB AS (also the best foreign investor)
• 2007 – Tallink Grupp AS (also the most outstanding tourism innovator)
• 2006 – Vertex Estonia AS (also the most outstanding innovator)
• 2005 – Regio AS (also the most outstanding innovator)

The gala award ceremony held in 14 September 2011 at the Estonia Concert Hall could be watched on TV3 for the first time.


The competition was held in parallel with the Estonian business competitiveness rankings compiled by the Estonian Chamber of Commerce and Industry.