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The Responsible Business Forum Estonia has recognised SmartCap for its activities in the field of sustainability with the Silver Level. This is Estonia’s most prestigious recognition for companies awarded for their activities in the field of sustainability and social responsibility.

On May 16, 2023, SmartCap updated the eligibility criteria Greentech Investment Programme (GTIP). According to the updated criteria, an applicant’s investors may not be with Russian or Belarussian background.

By the end of the first quarter, SmartCap has selected two of the strongest private fund management candidates to manage green technology venture capital funds, and it is expected that agreements will be concluded in the second half of this year after additional due diligence process and negotiations of the investment terms.

On May 9, 2023, SmartCap published an updated version of the Greentech Investment Programme (GTIP).

Every company that is just starting or already taking its first steps – both start-ups focused on new technologies and services as well as the entire business sector in general – should consider two aspects of the environmental impact related to their activities, writes Markus Jakobsoo, Head of Legal and Compliance from SmartCap.

In 2022, the forecasts called for cloudy skies while investors and start-ups started feeling headwinds – market conditions were globally becoming unstable. The decrease in investment courage due to the cooling of economies, the rise in prices and the increase in the cost of capital, as well as the layoffs of technology giants, have of course also provided more reasons for this.

The exceptionally opportune times of the past decade in the economy, finance and venture capital world have been replaced by uncertainty, expensive money and investor caution.

On March 2nd the government authorised the Minister of Entrepreneurship and Information Technology to invest 30 million euros in NATO’s billion-euro Innovation Fund through the national fund management company SmartCap.

In the coming years SmartCap, which last year created the Green Fund of nearly 100 million euros, will allow green and smart business ideas the opportunity to grow with VC funding and will encourage innovators to undertake both already prepared and new sustainable projects.

The applications will be evaluated according to the procedure set out in the call document.

Applicants interested in participating in the Call shall submit an Expression of Interest complying with the requirements set out in the Call Document not later than 23 December 2022 at 12PM EET (UTC+2).

SmartCap’s Greentech Investment Programme (GTIP), which was launched at the end of October, has received the first funding applications that have passed the preliminary eligibility screening.