The Estonian Embassy in Washington, D.C., has opened a new business hub to support Estonian companies entering the U.S. market. Estonia already has two similar hubs in Seoul, South Korea and Singapore.
The Estonian Embassy in Washington, D.C., has opened a new business center on its premises with the aim of supporting Estonian companies that are interested in operating on the U.S, market, as well as those that are already active in the United States.
“It is not easy to get into the American market. The embassy is the only door for us to get in. Unless, by chance, the Americans have not noticed you before and come to you themselves, opening a center like in the embassy is certainly very encouraging,” said Siim Saliste, vice president of business development at mixed reality situational awareness system (MRSAS) company Vegvisir.
Opened with EU funding, the new center will provide Estonian companies with space to hold business meetings, as well as product launches and other events. In addition, it will help them to establish contacts with investors.
“An investment seminar for defense companies is being held here today and tomorrow. A number of meetings between companies have already taken place in this same room. This is the kind of work that our future business hub here under the Estonian Embassy umbrella could do to add value to businesses,” said Inga Bowden, deputy head of mission at the Estonian Embassy.
Estonian companies are of growing interest to U.S. investors. In recent years, the war in Ukraine has focused their attention on Estonia’s defense industry.
“There is capital in the U.S. There is a bit of a boom in the defense industry in Estonia, with new companies coming out all the time with new, exciting and unique products and services. Bringing these products and services to market requires capital,” said Rene Ehasalu, cluster manager of the Estonian Defense and Aerospace Industry Association.
“The war in Ukraine is a very serious area for cooperation. What we are interested in is finding the best technology companies. Estonia has made history with its technical expertise, you are obviously a leader in the region. Also, we in the U.S. are not so naive as to think that the best talent, best companies and the best technology and innovation can only come from our country,” said investor Stephanie Bellistri.
“The close relations between Estonia and the United States are largely based on shared values, such as democracy and respect for freedoms,” Estonian Ambassador to the U.S. Kristjan Prikk said of the opening.
“Both Estonia and the U.S.A. also value innovation, digital development and economic freedom. I am convinced that the economic ties between Estonia and the US can be enhanced and the Business Hub is definitely a good opportunity for this.”
The ambassador noted that when it comes to entering foreign markets, a phone call or an email may not always be enough. “Immediate contacts and seeing the products first hand increases the likelihood of cooperation,” Prikk said. “As the Business Hub is located on the premises of the Estonian Embassy, the support and advice of the embassy staff can also be ensured.”
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