TALLINN, ESTONIA – Estonian entrepreneurs Taavet Hinrikus and Sten Tamkivi are establishing Kasvuhoone – the largest Nordic hub for tech and creativity. The aim is to bring at least 100 new startups to Kasvuhoone in the Krulli neighborhood to grow the economy of Estonia and Europe from Kalamaja.
“The changed power dynamics have given Europe a unique opportunity that we must not miss. Now is the right time, together with the AI revolution, to create new companies and industries that increase Europe’s independence and competitiveness in the world,” said Taavet Hinrikus, explaining the idea behind creating this unique future business growth platform.
“Europe has sufficient talent and large enough markets to build a better future for everyone. European technologies with a humanistic view have the potential to impact all of humanity over the next decade, and Estonia’s and more broadly the Nordic’s favorable business environment would allow these companies to grow right here,” added Sten Tamkivi.
The entrepreneurs are convinced that in a de-globalizing world, Europe has a clear competitive advantage alongside China and the USA, which is largely untapped. Europe has values and a unique way of creating life-changing companies that the USA and China are incapable of due to their nationally rooted business cultures and politics.
Therefore, the investment company Skaala, led by Hinrikus and Tamkivi, is creating a unique hub for tech and creativity called Kasvuhoone (meaning “growth house” in Estonian) in the Krulli neighborhood, whose community has all the prerequisites for global breakthrough and growing Estonia’s GDP.
Spanning 15,000 square meters, Kasvuhoone will bring together ambitious startups, a business accelerator, technology innovators, creative studios, open workspaces, and a vibrant common area with a food street, small businesses, and exhibition spaces.
“Our goal is to create an ecosystem in Kasvuhoone that would help companies grow in an environment that fosters cooperation and international networking. We like to think of Kasvuhoone as more open space and less real estate,” explained Hinrikus.
Therefore, the European renowned startup accelerator Norrsken Accelerator, founded by the Swedish organization Norrsken Foundation, will have a special role in Kasvuhoone. Invited there by Skaala, this globally unique program invests in European early-stage startups in resilience and sustainability, with the potential to become impact unicorns.
“The shifting geopolitical climate has created a once-in-a-lifetime opportunity for Europe to cement our leadership as a global leader in sustainable innovation. We look forward to working with the Kasvuhoone team to find and back the best talent coming out of Estonia. There’s never been a better time for founders building Europe’s sustainable and resilient future”, said Rebecka Löthman Rydå, general partner at Norrsken Accelerator.
Norssken Accelerator plans to launch its program in Tallinn as early as next year.
Kasvuhoone, being created in the former Krulli mechanical workshop, will be designed as Europe’s most influential business environment by Denmark’s leading architectural firm Cobe. The firm’s architects are known worldwide for creating urban spaces that promote creativity. Cobe’s partner in Estonia is KOKO Architects.
“The arrival of Kasvuhoone and Norrsken Accelerator to Tallinn brings the Nordic countries even closer to its eastern border and hopefully sends a strong message about regional security speculations,” said Hinrikus.