Elevator Startups was founded in 2015, when ADM Group along with Age McCann and Division moved into Kultuurikatel. Once under the same roof, the companies wanted to try out new ideas and together, they started supporting each other in working with and developing these ideas. Today, various startup companies have launched from Elevator Startups, such as Frank.AI and Ööloom.
For ADM, the main partner at Elevator Startups, the incubator has been of extreme significance as it has enabled the company to encourage their employees to work with any new ideas that they come up with, even if they are not necessarily connected to their daily work. At the same time, the exact opposite has happened as well – employees have worked on the kind of innovation and product development that has helped improve how everyday tasks can be done. In this way, Elevator Startups has been a learning and growth platform for ADM’s employees.
Jaak Ennuste, Senior Managing Partner at Elevator Startups said in the Enterprise Estonia press release that he is glad that the interests of Entreprise Estonia and the incubator are aligned and that he believes Elevator Startups has gained a good partner, “Without this support, we would be able to continue working with 2-3 companies per year, but together, we can help realise the potential of so many more companies.”
“From our point of view, Elevator Startups is much more than just an incubator for new companies. To us, it is definitely a platform that enables us to invest in innovation both in the form of startups as well as our own staff, who often have awesome ideas which need extra time and support so they could work on them. Enterprise Estonia’s decision to help Elevator Startups with additional funding enables us to support incoming startups much better and in a much larger capacity than before,” said Riho Pihelpuu, CEO of ADM.
The purpose of Enterprise Estonia’s support is to aid creative industry companies by enhancing their added value and export capabilities through development centres where new creative entrepreneurs can work on developing their products and services.
This kind of support is especially important today because the creative industry is an increasingly more popular sector that forms around 3% of Estonia’s economy. To ensure that the sector continues to grow just as quickly, Enterprise Estonia sees the need to invest in development centres who can support creative industry companies throughout their development journey as well as later, when they enter foreign markets.
You can read more about how Enterprise Estonia wishes to make their contribution to Estonia’s future through the local creative industry and how they chose the seven development centres for the state financial support in the ITuudised article here: https://www.ituudised.ee/uudised/2019/12/10/eas-asus-toetama-jaak-ennuste-elevator-startupsi
Reg no: 10474271
VAT no: EE100046715
Kultuurikatel, Põhja pst 27a, Tallinn, 10415
Phone: +372 617 7600
20 Birchin Lane, London EC3V 9DU
Phone +44 7451 213604