With the support of the Estonian Development Fund, 23 young people have been chosen from among almost a hundred candidates to study at the Founder Institute, a startup institute where classes began in Tallinn on 19 November. The institute’s mission is to act as a springboard for today’s workers who could become creators of new startups.
23 potential entrepreneurs were selected to study in the Tallinn programme of the startup institute, which was established as a nationwide pilot project. The average age of those starting their studies in the programme is 32, and they currently work in large companies.
The classes will last for four months. The startup institute forms part of the biggest startup training programme in the world – the Founder Institute, which is represented in nearly 50 cities all over the world.
“The four-month course at the institute includes some very practical work – our potential entrepreneurs create their own startups during their studies and develop them using the information gained on the course as well as feedback from business mentors and practical assignments,” Mari Suviste, the Estonian representative of Founder Institute, said. Study sessions are being held once a week in the evenings, which means that participants do not need to take time away from their day job.
With its headquarters based in Silicon Valley, the Founder Institute has contributed to the creation of more than 1,000 technology startups around the world in the past four years. The total market value of these companies is USD5 billion and they employ more than 10,000 people.