Let’s celebrate high-flying Estonian companies!

What is the Entrepreneurship Award?

Organised by Estonian Business and Innovation Agency and the Confederation of Estonian Employers, the entrepreneurship competition with the longest history in Estonia took place for the 27th time this year. An Entrepreneurship Award is the highest national recognition for businesses!

The competition recognises Estonian companies that, despite challenges, have achieved success through ingenuity and consistent work. Let’s now put down our tools for a moment, take some time to recap what has been done and pay tribute to companies and their employees!


Applying and nominating

The application process was divided into two phases this year. In the first phase, the companies had to fill in the fields about the enterprise’s financial data and present the main arguments in free form about why their enterprise should win in the category.

For the first time, it was also possible to nominate a company by submitting the enterprise’s name and registration code information and outlining the main arguments for why the nominated enterprise should be the winner of the category.


After the first phase, a TOP 10 ranking was drawn up and visitations were arranged with the selected enterprises to specify their accomplishments according to the statute. On this basis, three nominees in each category were shortlisted and submitted to the Entrepreneurship Awards 2022 jury to select the winner.


In addition to the Entrepreneurship Award, there is another competition taking place at the same time: the Estonian Companies’ Competitiveness Ranking competition by the Estonian Chamber of Commerce and Industry. The title of Company of the Year 2022 will be awarded to the best nominee of the two competitions.



Winners were selected by experts who evaluated the economic indicators, bigger achievements and contribution to the development of the society.

Exporter Top 3 companies

FLIR Systems Estonia OÜ
Baltic Workboats AS
Solis BioDyne OÜ

Winner: Baltic Workboats AS

Foreign Investor Top 3 companies

FLIR Systems Estonia OÜ
Incap Electronics Estonia OÜ
HANZA Mechanics Tartu AS

Winner: Incap Electronics Estonia OÜ

Innovator TOP 3 companies

Dynomax OÜ
Solis BioDyne OÜ
ElectroAir OÜ

Winner: Solis BioDyne OÜ

Sustainable Enterprise Top 3 companies

Timbeco Woodhouse OÜ
Estiko-Plastar AS
Foxway OÜ

Winner: Timbeco Woodhouse OÜ

Tourism Developer Top 3 companies

Fotograafia Tallinn OÜ
SA Teaduskeskus AHHAA
OKO restoranid OÜ

Winner: Fotograafia Tallinn OÜ

Family Enterprise Top 3 companies

Nurme Looduskosmeetika OÜ
AS Estiko Grupp
Peetri Puit OÜ

Winner: Peetri Puit OÜ