News

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The exceptionally opportune times of the past decade in the economy, finance and venture capital world have been replaced by uncertainty, expensive money and investor caution.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

SmartCap together with PwC Estonia held a seminar at GreenEST Summit 2022, focusing on the aspects an investor should keep in mind, when talking about green companies.

On 31st of October, SmartCap announced the Greentech Investment Programme for greentech startup companies to apply for an investment from SmartCap Green Fund. SmartCap aims to invest up to 20 million into direct equity or convertible instruments.

On October 14, 2022, SmartCap published an updated version of Call for Expressions of Interests (EOI) document together with a clarification document with answers to questions submitted by the applicants.

Through SmartCap, the state is to invest 30 million euros in the NATO Innovation Fund, the purpose of which is to support deep tech start-ups that have both civil and military use by creating additional growth opportunities and new solutions.

Even before the health crisis that began in 2020, there was a growing realization that we would not last long on this planet without contributing to achieving the climate goals. Today, the war in Ukraine, the tense geopolitical situation and the energy crisis have inevitably caused polarization in this way of thinking. Some are ready to throw the entire idea of the green transition in the trash to find quick solutions, while others are prepared to invest in it as much as possible to immediately start moving towards future solutions.